Statute · California Insurance Code
Cal. Ins. Code § 12110 — Financial Guaranty Insurance
Cal. Ins. Code § 12110
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 2006-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
An unearned premium reserve shall be established and maintained net of reinsurance and collateral with respect to all financial guaranty premiums. Where financial guaranty insurance premiums are paid on an installment basis, an unearned premium reserve shall be established and maintained, net of…
Citator
Cal. Ins. Code § 12110 — Financial Guaranty Insurance is in force in the current edition of the Code, and nothing recorded condemns it.
An unearned premium reserve shall be established and maintained net of reinsurance and collateral with respect to all financial guaranty premiums. Where financial guaranty insurance premiums are paid on an installment basis, an unearned premium reserve shall be established and maintained, net of reinsurance, computed on a daily or monthly pro rata basis. All other financial guaranty insurance premiums written shall be earned in proportion with the expiration of exposure, or by such other method as may be prescribed or approved by the commissioner.