California § 1063.78. 1063.78. (Added by Stats. 2022, Ch. 408, Sec. 15.)

California Statutes

§ 1063.78. — 1063.78. (Added by Stats. 2022, Ch. 408, Sec. 15.)

California·Code INS Insurance Code - INS·Div. 1. DIVISION 1. GENERAL RULES GOVERNING INSURANCE·Part 2. PART 2. THE BUSINESS OF INSURANCE·Ch. 1. CHAPTER 1. General Regulations·Art. 14.26. ARTICLE 14.26. California Insurance Guarantee Association Bond Funds

If the board requests the California Infrastructure and Economic Development Bank to issue bonds pursuant to Section 1063.70, the board shall report all of the following to the Assembly Committee on Insurance and the Senate Committee on Insurance within 60 days of the request, and annually thereafter while the bonds remain outstanding:

(a)The amount of the bonds requested.

(b)The reason for the requested bonds.

(c)Details of covered claims obligations requiring the issuance of bonds.

(d)Planned bond repayment assessments.

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If the board requests the California Infrastructure and Economic Development Bank to issue bonds pursuant to Section 1063.70, the board shall report all of the following to the Assembly Committee on Insurance and the Senate Committee on Insurance within 60 days of the request, and annually thereafter while the bonds remain outstanding:
(a)
The amount of the bonds requested.
(b)
The reason for the requested bonds.
(c)
Details of covered claims obligations requiring the issuance of bonds.
(d)
Planned bond repayment assessments.

California § 1063.78. (1063.78. (Added by Stats. 2022, Ch. 408, Sec. 15.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.