California Statutes
§ 12920.5. — 12920.5. (Amended by Stats. 2021, Ch. 50, Sec. 245.)
California·Code INS Insurance Code - INS·Div. 3. DIVISION 3. THE INSURANCE COMMISSIONER·Ch. 2. CHAPTER 2. Powers and Duties·Art. 1. ARTICLE 1. Generally
In addition to and independent of any and all other proper causes for refusal by the commissioner to approve or accept any bond filed or presented for filing with the commissioner under any provision of this code or other laws, the commissioner shall decline to approve, accept, or file any bond, if, in the commissioner’s opinion, the principal and the surety are affiliated in any manner whereby insolvency of the one party would affect the solvency of the other or whereby it is made uncertain whether or not that result might occur.
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California § 12920.5. (12920.5. (Amended by Stats. 2021, Ch. 50, Sec. 245.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2021, Ch. 50, Sec. 245. (AB 378) Effective January 1, 2022.