ARTICLE 2. Alien Insurers
Article 2 repealed and added by Stats. 1941, Ch. 51.
§§ 1580–1599 · 20 sections
- § 1580 As used in this article, the term “alien insurer” means a foreign insurer organized under the laws of any jurisdiction other than a State of the United States.
- § 1581 Except as otherwise expressly provided for particular insurers, an alien insurer shall not transact any insurance in this State without first making the…
- § 1582 The amount of such deposit shall be equal to the minimum amount of the paid-in capital required for admission of incorporated insurers issuing policies on a…
- § 1583 The deposit required by Section 1581 (a) Shall be continuously maintained so long as any obligation arising out of any insurance transacted by such alien…
- § 1585 If such deposit is not so maintained in this State, it shall be deemed to be in existence as required by this article only when a certificate, issued by the…
- § 1586 Such deposit, if maintained in this State, shall be for the benefit and security of all the policyholders and creditors of such alien insurer in the United…
- § 1587 Securities deposited with the commissioner pursuant to this article shall be specially deposited by him in the State Treasury, in packages marked with the name…
- § 1588 As long as the depositing insurer is solvent and the deposited securities are sufficient under this article, it may collect the income on the deposited…
- § 1589 Whenever a deposit is made with the commissioner, he or she shall issue to the depositing insurer a certificate under his or her official seal stating the…
- § 1590 The commissioner shall require the payment of forty-four dollars ($44), in advance, as a fee for filing a certificate of deposit of securities under this…
- § 1591 In addition to complying with all other applicable requirements of this code, every admitted alien insurer shall on or before the first day of March in each…
- § 1592 The statement required by Section 1591 shall be verified in the manner prescribed in Sections 903 and 903.5 and the certificate of each trustee in the United…
- § 1593 The excess of the sum of those items in such statement, which are described in subdivision (a), (b), (c) and (d) of Section 1591, over the liabilities in the…
- § 1594 Whenever it appears to the commissioner that the trusteed surplus in the United States of an alien insurer is less than an amount equal to the minimum amount…
- § 1595 Whenever an admitted alien insurer is required or permitted to deposit assets with a trustee for the benefit and security of its policyholders, or of its…
- § 1596 To satisfy the purposes of this article, any alien insurer admitted or seeking to be admitted is hereby authorized to make and execute a deed of trust by…
- § 1596.5 Trusteed assets may be held by a trustee in the name of a nominee of the trustee, when permitted by and in accordance with the law authorizing the trustee to…
- § 1597 In respect of the appointment or substitution of a trustee in another state in which an admitted alien insurer is authorized to transact insurance, in respect…
- § 1598 The commissioner may from time to time examine the trusteed assets of any alien admitted insurer pursuant to Section 736, and may from time to time require the…
- § 1599 The commissioner shall require the payment of twenty-nine dollars ($29), in advance, as a fee for filing each certificate of a trustee required to be filed by…