California Insurance Code 1103 – Whenever an insurer is injured or made to suffer loss by reason of …
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Whenever an insurer is injured or made to suffer loss by reason of any violation of the provisions of sections 1101, 1102 or 1104, such insurer may recover from the guilty officer, director, trustee or other person, or any one or more of them jointly or severally damages sufficient to compensate such insurer for such loss.
(Amended by Stats. 1937, Ch. 736.)
Terms Used In California Insurance Code 1103
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
- Trustee: A person or institution holding and administering property in trust.