ARTICLE 5. Finances [1370. - 1375.]
Article 5 enacted by Stats. 1935, Ch. 145.
§§ 1370–1375 · 11 sections
- § 1370 Every exchange shall maintain its required assets in any one, or more, or all of the following forms: (a) In cash or deposits in solvent banks. (b) Invested in…
- § 1370.2 Except as in this article (commencing with Section 1370) otherwise provides, every exchange subject to this chapter (commencing with Section 1280) shall on and…
- § 1370.4 An exchange admitted prior to October 1, 1961, shall be exempt from the provisions of Section 1370.2 until it replaces its attorney in fact, except when the…
- § 1370.8 Any exchange exempted at any time from the provisions of Section 1370. 2 shall irrespective of such exemption be subject to the provisions of this section. No…
- § 1371 If an exchange does either liability or workers’ compensation insurance, it shall at all times maintain assets in a sum sufficient to discharge all liabilities…
- § 1372 Every other exchange shall maintain at all times assets in a sum sufficient to discharge all liabilities and to provide a surplus over all liabilities of fifty…
- § 1373.1 No certificate of authority, other than a renewal certificate of authority, shall be issued to the attorney within three years from and after the time when the…
- § 1373.2 (a) Except as provided in subsection (b) hereof, an exchange, the attorney for which holds a certificate of authority, which has been in business as an insurer…
- § 1374 In estimating the financial condition of any exchange the commissioner shall observe the following rules: (a) He or she shall charge as liabilities the same…
- § 1374.1 (a) “Surplus deposits of subscribers,” as used in this chapter, means amounts, over and above any premium charges, which are contributed by subscribers and…
- § 1375 Where the subscribers are grouped by industries or otherwise under any ruling or agreement which exempts the funds of one group from liability in whole or in…