California § 4061. 4061. (Added by Stats. 1963, Ch. 1772.)

California Statutes

§ 4061. — 4061. (Added by Stats. 1963, Ch. 1772.)

California § 4061.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 2.DIVISION 2. CLASSES OF INSURANCE

Part 1.PART 1. FIRE AND MARINE INSURANCE

Ch. 4.CHAPTER 4. General Mutual Insurers

Art. 6.ARTICLE 6. Nonassessable Policies

This text of California § 4061. (4061. (Added by Stats. 1963, Ch. 1772.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 4061. (2026).

Text

The commissioner shall not authorize a domestic insurer to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all such policies for all kinds of insurance transacted by it. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued when the insurer had an unrevoked certificate to issue nonassessable policies.

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The commissioner shall not authorize a domestic insurer to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all such policies for all kinds of insurance transacted by it. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued when the insurer had an unrevoked certificate to issue nonassessable policies.

Legislative History

Added by Stats. 1963, Ch. 1772.

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California § 4061., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/INS/4061..