Terms Used In California Codes > Insurance Code > Division 2 > Part 6 > Chapter 2A > Article 6 - Financial Statements

• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• Contingency reserve: means an additional premium reserve established for the protection of policyholders against the effect of adverse economic cycles. See California Insurance Code 12640.02
• 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.
• Director: means "State Director of Health Services. See California Health and Safety Code 21
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• 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 Health and Safety Code 23