§ 7010
40 words·~1 min read·
/ca/insurance-code/7010A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When any loss exceeds in amount the cash funds of the insurer and also exceeds one-eighth of one per cent of the total amount of the insurer’s insurance in force, its president shall convene its directors to make an assessment.