In the case of the insolvency of an admitted insurer, the commissioner shall prepare a report, which shall be a public record, with respect to the causes and factors which contributed to that insolvency. The report shall be submitted to the Governor and to the Legislature no later than one year from the date of the insolvency.
(Added by Stats. 1990, Ch. 410, Sec. 1.)
Terms Used In California Insurance Code 985.5
- Commissioner: means the Insurance Commissioner of this State. See California Education Code 25022.5
- insolvency: means either of the following:
California Insurance Code 985