California Insurance Code 739.9 – (a) The provisions of this article are supplemental to any other …
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(a) The provisions of this article are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under such laws.
(b) The commissioner may adopt reasonable rules necessary for the implementation of this article.
Terms Used In California Insurance Code 739.9
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
- Property and casualty insurer: means any admitted insurer writing insurance as described in Section 102, 103, 105, 107, 108, 109, 110, 111, 112, 113, 114, 115, 116, 118, 119. See California Insurance Code 739
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
(c) The commissioner may exempt from the application of this article any domestic property and casualty insurer that does all of the following:
(1) Writes direct business only in this state.
(2) Writes direct annual premiums of five million dollars ($5,000,000) or less.
(3) Assumes no reinsurance in excess of 5 percent of direct premiums written.
(Added by Stats. 1996, Ch. 708, Sec. 1. Effective January 1, 1997.)