The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner, the Governor, and the Legislature each year, not later than 120 days after the association’s fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year. Upon the request of a member insurer, the association shall provide the member insurer with a copy of the report.

(Amended by Stats. 2010, Ch. 334, Sec. 13. (SB 1408) Effective September 27, 2010.)

Terms Used In California Insurance Code 1067.13

  • Association: means the California Life and Health Insurance Guarantee Association created pursuant to Section 1067. See California Insurance Code 1067.04
  • Commissioner: means the Insurance Commissioner. See California Insurance Code 1067.04
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Member insurer: means any insurer licensed or which holds a certificate of authority to transact in this state any kind of insurance for which coverage is provided under Section 1067. See California Insurance Code 1067.04
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