California Statutes
§ 12640.03. — 12640.03. (Added by Stats. 1961, Ch. 719.)
California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 6. PART 6. INSURANCE COVERING LAND·Ch. 2A. CHAPTER 2A. Mortgage Guaranty Insurance·Art. 2. ARTICLE 2. Capital, Surplus and Contingency Reserve Requirements
An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in surplus of at least one million dollars ($1,000,000).
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California § 12640.03. (12640.03. (Added by Stats. 1961, Ch. 719.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1961, Ch. 719.
Nearby Sections
15
§ 12640.01.
12640.01. (Added by Stats. 1961, Ch. 719.)§ 12640.03.
12640.03. (Added by Stats. 1961, Ch. 719.)§ 12640.06.
12640.06. (Added by Stats. 1961, Ch. 719.)§ 12640.08.
12640.08. (Added by Stats. 1961, Ch. 719.)§ 12640.09.
12640.09. (Amended (as amended by Stats. 2012, Ch. 105, Sec. 1) by Stats. 2016, Ch. 62, Sec. 1.)§ 12640.12.
12640.12. (Added by Stats. 1961, Ch. 719.)