§ 4060 A domestic mutual insurer while maintaining unimpaired surplus funds …
§ 4061 The commissioner shall not authorize a domestic insurer to extinguish …
§ 4062 A foreign or alien mutual insurer may issue nonassessable policies to …
§ 4063 The commissioner shall revoke the certificate of a domestic mutual …
§ 4064 During the absence of such certificate the insurer shall not issue …

Terms Used In California Codes > Insurance Code > Division 2 > Part 1 > Chapter 4 > Article 6 - Nonassessable Policies

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
  • State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28