§ 10722
47 words·~1 min read·
/ca/insurance-code/10722A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If assessments exceed actual losses and administrative expenses of the fund, the excess shall be held at interest and used by the fund to offset future losses or to reduce fund premiums. As used in this paragraph, “future losses” includes reserves for incurred but not reported claims.