California Insurance Code 10721 – The fund shall provide for the financing of its reinsurance and …
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The fund shall provide for the financing of its reinsurance and operating costs, including actuarially sound reserves for unpaid losses, by charging members a reinsurance contribution and, as necessary, making assessments and collections from members in proportion to their participation in the program. Neither the state or any officer, agent, or employee shall be liable for any costs of the fund, or for any debts or liabilities incurred by the fund.
(Added by Stats. 1992, Ch. 1128, Sec. 10. Effective January 1, 1993. Operative July 1, 1993, by Sec. 15 of Ch. 1128.)
Terms Used In California Insurance Code 10721
- Fund: means the California Small Group Reinsurance Fund. See California Insurance Code 10700
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Program: means the Health Insurance Plan of California. See California Insurance Code 10700
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
