§ 11460
67 words·~1 min read·
/ca/insurance-code/11460A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Members of the insurer who are in good standing prior to the transformation may thereafter transfer their insurance, without change of amount and without medical examination, from the assessment plan to the nonassessable reserve basis at the reserve rates. The interest and the assets of the insurer credited to the person so transferring shall become a part of the assets of the insurer on the reserve basis.