California § 739.9. 739.9. (Added by Stats. 1996, Ch. 708, Sec. 1.)

California Statutes

§ 739.9. — 739.9. (Added by Stats. 1996, Ch. 708, Sec. 1.)

California·Code INS Insurance Code - INS·Div. 1. DIVISION 1. GENERAL RULES GOVERNING INSURANCE·Part 2. PART 2. THE BUSINESS OF INSURANCE·Ch. 1. CHAPTER 1. General Regulations·Art. 4.1. ARTICLE 4.1. Risk-Based Capital for Insurers

(a)The provisions of this article are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under such laws.

(b)The commissioner may adopt reasonable rules necessary for the implementation of this article.

(c)The commissioner may exempt from the application of this article any domestic property and casualty insurer that does all of the following:

(1)Writes direct business only in this state.

(2)Writes direct annual premiums of five million dollars ($5,000,000) or less.

(3)Assumes no reinsurance in excess of 5 percent of direct premiums written.

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(a)
The provisions of this article are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under such laws.
(b)
The commissioner may adopt reasonable rules necessary for the implementation of this article.
(c)
The commissioner may exempt from the application of this article any domestic property and casualty insurer that does all of the following:
(1)
Writes direct business only in this state.
(2)
Writes direct annual premiums of five million dollars ($5,000,000) or less.
(3)
Assumes no reinsurance in excess of 5 percent of direct premiums written.

California § 739.9. (739.9. (Added by Stats. 1996, Ch. 708, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.