Insurance Code § 7010

ARTICLE 8. Assessments

Current as of September 28, 2026Ins. Code, § 7010Official source ↗

Enacted by Stats. 1935, Ch. 145.

When any loss exceeds in amount the cash funds of the insurer and also exceeds one-eighth of one per cent of the total amount of the insurer’s insurance in force, its president shall convene its directors to make an assessment.