So long as the insurer continues solvent the commissioner shall permit it to collect the interest or dividends on the securities so deposited, and from time to time to withdraw any such securities on depositing other securities in the stead of those to be withdrawn. Such new securities shall be of the same value as those withdrawn and of the character mentioned in this article.
(Enacted by Stats. 1935, Ch. 145.)
Terms Used In California Insurance Code 943
- Commissioner: means the Insurance Commissioner of this State. See California Education Code 25022.5