§ 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

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Energy Commission: means the State Energy Resources Conservation and Development Commission. See California Public Utilities Code 20
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fraud: Intentional deception resulting in injury to another.
  • 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.
  • 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.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Service of process: The service of writs or summonses to the appropriate party.
  • State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
  • Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Public Utilities Code 10