California Statutes
§ 923.5. — 923.5. (Amended by Stats. 2010, Ch. 61, 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. 10. ARTICLE 10. Financial Statements of Insurers
Each insurer transacting business in this state shall at all times maintain reserves in an amount estimated in the aggregate to provide for the payment of all losses and claims for which the insurer may be liable, and to provide for the expense of adjustment or settlement of losses and claims.
The reserves shall be computed in accordance with regulations made from time to time by the commissioner. The promulgation of the regulations by the commissioner, or any changes thereto or amendments thereof, shall be in accordance with the procedure provided in Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code. The commissioner shall make the regulations upon reasonable consideration
of the ascertained experience and the character of such kin
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California § 923.5. (923.5. (Amended by Stats. 2010, Ch. 61, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
American Re-Insurance Co. v. INSURANCE COM'N, ETC.
527 F. Supp. 444 (C.D. California, 1981)
California Ins. Co. v. Lara
(E.D. California, 2021)
Applied Underwriters, Inc. v. Lara
(E.D. California, 2021)
Legislative History
Amended by Stats. 2010, Ch. 61, Sec. 1. (AB 2002) Effective January 1, 2011.