ARTICLE 3.5. Unearned Premium Reserve and Reserve for Unpaid Losses and Loss Expense [12380. - 12388.]
Article 3.5 added by Stats. 1965, Ch. 272.
§§ 12380–12388 · 14 sections
- § 12380 Unless the provision or context otherwise requires, the following definitions govern the construction of this article: (a) “Total charges for policies of title…
- § 12381 Every domestic title insurer shall, in addition to other reserves, establish and maintain a reserve to be known as the “unearned premium reserve” for title…
- § 12382 The unearned premium reserve of every title insurer shall consist of: (a) Such amount as would have been required to be set aside in said reserve on all…
- § 12382.2 (a) Out of total charges for policies of title insurance, a title insurer shall add to and set aside in its unearned premium reserve commencing as of January…
- § 12382.3 The aggregate amount set aside in the unearned premium reserve shall be separately recorded and reserved in respect to such policies and contracts issued in…
- § 12382.4 For the purpose of determining the amounts of the unearned premium reserve that may be withdrawn pursuant to Section 12382.5 and the interest of the…
- § 12382.5 (a) The aggregate of the amounts set aside in unearned premium reserve in any calendar year pursuant to subdivision (a) of Section 12382.2 shall be released…
- § 12382.6 If substantially the entire outstanding liability under all policies and contracts of title insurance or reinsurance of any ceding company shall be reinsured,…
- § 12383 All amounts set aside in the unearned premium reserve of a title insurer shall be held either as cash on hand or shall be deposited or invested in those…
- § 12384 If the aggregate amount set aside by a title insurer in its unearned premium reserve should at any time be less than the amount required to be maintained in…
- § 12385 If a title insurer shall at any time become insolvent, be in the process of liquidation or dissolution or be in the possession of the commissioner, all amounts…
- § 12386 In the event that reinsurance is not obtained, as authorized by Section 12385, the unearned premium reserve and assets constituting the guarantee fund of the…
- § 12387 Where a title insurer organized or incorporated under the laws of any state other than California does business in California, if the laws of the state of its…
- § 12388 Every title insurer shall, in addition to other reserves establish and maintain a reserve to be known as the “reserve for unpaid losses and loss adjustment…