California Financial Code 18512 – The commissioner may require Guaranty Corporation to obtain a bond, …
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The commissioner may require Guaranty Corporation to obtain a bond, insurance, or reinsurance which provides additional protection against losses to its members’ thriftholders. The type, amount, and form of this protection is subject to the commissioner’s written approval.
(Added by Stats. 1985, Ch. 142, Sec. 26. Effective July 1, 1985.)
Terms Used In California Financial Code 18512
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.