California § 11698.01. 11698.01. (Added by Stats. 2002, Ch. 899, Sec. 2.)

California Statutes

§ 11698.01. — 11698.01. (Added by Stats. 2002, Ch. 899, Sec. 2.)

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

When the commissioner is authorized to proceed under Section 11698 he or she may do either of the following:

(a)Subject to Sections 11698.2, 11698.21, and 11698.22, enter into reinsurance and assumption agreements with one or more admitted solvent workers’ compensation insurers by the terms of which liability for all those obligations is reinsured and assumed by such insurer.

(b)Use the deposit required pursuant to Section 11691 to pay or procure payment of the insurer’s compensable workers’ compensation claims and those expenses authorized in Section 11698.02.

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When the commissioner is authorized to proceed under Section 11698 he or she may do either of the following:
(a)
Subject to Sections 11698.2, 11698.21, and 11698.22, enter into reinsurance and assumption agreements with one or more admitted solvent workers’ compensation insurers by the terms of which liability for all those obligations is reinsured and assumed by such insurer.
(b)
Use the deposit required pursuant to Section 11691 to pay or procure payment of the insurer’s compensable workers’ compensation claims and those expenses authorized in Section 11698.02.

California § 11698.01. (11698.01. (Added by Stats. 2002, Ch. 899, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.