California Insurance Code 11701 – The commissioner may revoke the certificate of authority to transact …
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The commissioner may revoke the certificate of authority to transact workers’ compensation insurance or to reinsure the injury, disablement, or death portions of policies of workers’ compensation under the class of disability insurance in this state of any insurer failing to comply with the requirements of this article. The power vested in the commissioner by this section is additional to any and all other powers and remedies vested in the commissioner by law. Failure to make the deposit required by this article within the required time shall be deemed to constitute a condition of hazard as set forth in Section 1011.
(Repealed and added by Stats. 2002, Ch. 899, Sec. 2. Effective January 1, 2003.)
Terms Used In California Insurance Code 11701
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28