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Code · California · Insurance Code

§ 4063

64 words·~1 min read·/ca/insurance-code/4063

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The commissioner shall revoke the certificate of a domestic mutual insurer to issue policies without contingent liability if
(a)At any time the insurer’s assets are less than the sum of its liabilities and the surplus required for such certificate, or
(b)The insurer, by resolution of its board of directors approved by a majority of its members, requests that the certificate be revoked.
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