California Statutes
§ 11692.5. — 11692.5. (Amended by Stats. 2005, Ch. 415, Sec. 8.)
California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 3. PART 3. LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE·Ch. 3. CHAPTER 3. Regulation of Business of Workers’ Compensation Insurance·Art. 1. ARTICLE 1. Deposits by Workers’ Compensation Insurers
On and after the effective date of this article, the commissioner shall collect a late filing fee from any admitted insurer or reinsurer that fails to deposit the securities when required by this code in the following amount:
(a)If the deposit shortfall is outstanding for less than 31 days, 0.5 percent of the deposit shortfall, but in no event not less than six hundred dollars ($600).
(b)If the deposit shortfall is outstanding for more than 30 days but less than 61 days, an additional late filing fee in the amount of 1 percent of the deposit shortfall, but in no event not less than one thousand two hundred dollars ($1,200) shall be due.
(c)If the deposit shortfall is outstanding for 61 days or greater, an additional late filing fee of 1.5 percent of the deposit shortfall for every 30-da
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California § 11692.5. (11692.5. (Amended by Stats. 2005, Ch. 415, Sec. 8.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2005, Ch. 415, Sec. 8. Effective January 1, 2006.