California Statutes
§ 12110. — 12110. (Amended by Stats. 2005, Ch. 412, Sec. 4.)
California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 4. PART 4. MISCELLANEOUS CASUALTY INSURANCES·Ch. 1. CHAPTER 1. Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances·Art. 5. ARTICLE 5. Financial Guaranty Insurance
An unearned premium reserve shall be established and maintained net of reinsurance and collateral with respect to all financial guaranty premiums. Where financial guaranty insurance premiums are paid on an installment basis, an unearned premium reserve shall be established and maintained, net of reinsurance, computed on a daily or monthly pro rata basis. All other financial guaranty insurance premiums written shall be earned in proportion with the expiration of exposure, or by such other method as may be prescribed or approved by the
commissioner.
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California § 12110. (12110. (Amended by Stats. 2005, Ch. 412, Sec. 4.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2005, Ch. 412, Sec. 4. Effective January 1, 2006.