California Insurance Code 826 – “Insurer” for the purposes of this article includes every …
“Insurer” for the purposes of this article includes every organization organized for the purpose of assuming the risk of loss under contracts of insurance or reinsurance, and also includes any of the following organizations:
(a) An admitted insurer,
Terms Used In California Insurance Code 826
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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
- Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
(b) A nonadmitted domestic insurer,
(c) A nonadmitted foreign insurer,
(d) A nonadmitted alien insurer,
(e) An underwritten title company, or an organization organized for the purpose of doing an underwritten title business, whether licensed or not, and
(f) An attorney in fact of a reciprocal or interinsurance exchange, whether it be admitted or not, or an organization organized for the purpose of acting as the attorney in fact of a reciprocal, or interinsurance exchange, whether the same be admitted or not.
“Insurer” shall not include, unless specified in subdivisions (a) through (f), inclusive, an organization, which though required to obtain a certificate or license from the commissioner, is organized or to be organized primarily for purposes other than assuming the risk of loss under contracts or agreements of insurance.
The amendments of this section by the Legislature at the 1965 Regular Session, except as they relate to underwritten title companies, attorneys in fact, and exclusive managers, shall be construed as a restatement and continuation of the law existing prior to such amendment. Every permit issued by the commissioner or the Commissioner of Corporations to an insurer as defined in this section prior to its amendment by the Legislature at 1965 Regular Session shall be valid and effective for all purposes stated therein, from the date of its issuance until the date of expiration stated therein.
Every permit issued by the commissioner under the authority of former subdivision (g) of this section from the date such subdivision became effective in 1965 until the effective date of the amendment to this section at the 1970 Regular Session of the Legislature shall be valid and effective for all purposes stated therein, from the date of its issuance until the expiration date specified therein.
(Amended by Stats. 1970, Ch. 301.)