§ 1371
60 words·~1 min read·
/ca/insurance-code/1371A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If an exchange does either liability or workers’ compensation insurance, it shall at all times maintain assets in a sum sufficient to discharge all liabilities and to provide a surplus over all liabilities of one hundred thousand dollars ($100,000).
An exchange subject to the provisions of this section is also subject to the provisions of Sections 1370.2, 1370.4, and 1370.8.