Statute · California Insurance Code
Cal. Ins. Code § 11776 — Organization and Powers
Cal. Ins. Code § 11776
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The actual loss experience and expense of the fund shall be ascertained on or about the first of January in each year for the year preceding. If it is then shown that there exists an excess of assets over liabilities, necessary reserves, and a reasonable surplus for the catastrophe hazard, then…
Citator
Cal. Ins. Code § 11776 — Organization and Powers is in force in the current edition of the Code, and nothing recorded condemns it.
The actual loss experience and expense of the fund shall be ascertained on or about the first of January in each year for the year preceding. If it is then shown that there exists an excess of assets over liabilities, necessary reserves, and a reasonable surplus for the catastrophe hazard, then a cash dividend may be declared to, or a credit allowed on the renewal premium of, each employer who has been insured with the fund.