§ 12750 (a) A home protection company which has issued or renewed an …
§ 12751 Any home protection company which has issued and in force, prior to …
§ 12752 (a) A home protection company shall file an annual statement …
§ 12753 (a) A home protection company shall maintain a reserve for …
§ 12755 A home protection company shall be deemed insolvent whenever its net …
§ 12756 A home protection company shall invest only in those assets defined …
§ 12757 The provisions of Article 14.2 (commencing with Section 1063) of …

Terms Used In California Codes > Insurance Code > Division 2 > Part 7 > Chapter 2 - Fiscal Requirements

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • Contract: A legal written agreement that becomes binding when signed.
  • County: includes city and county. See California Public Utilities Code 18
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Home protection company: means any person licensed pursuant to this part which issues home protection contracts. See California Insurance Code 12740
  • Home protection contract: means a contract or agreement whereby a person, other than a builder, seller, or lessor of the home which is the subject of the contract, undertakes for a specified period of time, for a predetermined fee, to repair or replace all or any part of any component, system or appliance of a home necessitated by wear and tear, deterioration or inherent defect, arising during the effective period of the contract, and, in the event of an inspection conducted pursuant to subdivision (b) of Section 12761, by the failure of that inspection to detect the likelihood of any such loss. See California Insurance Code 12740
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Personal property: All property that is not real property.
  • Protection contract fee: means the consideration received, or to be received, by a home protection company for the issuance of any home protection contract. See California Insurance Code 12740
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17