ARTICLE 4. Loans

Article 4 added by Stats. 1963, Ch. 1772.

§§ 4040–4044 · 3 sections

• § 4040 A mutual insurer may borrow money to defray the expenses of its organization, provide it with surplus funds, or for any purpose of its business, upon a written…
• § 4042 The issuance of any document evidencing any such loan shall require the commissioner’s securities permit under Article 8 of Chapter 1, Part 2, Division 1…
• § 4044 This section shall not apply to loans obtained by the insurer in ordinary course of business from banks and other financial institutions, nor to loans secured…