Statute · California Insurance Code
Cal. Ins. Code § 12111 — Financial Guaranty Insurance
Cal. Ins. Code § 12111
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 2006-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
An admitted financial guaranty insurance corporation shall adopt procedures reasonably calculated to ensure, to the extent it is commercially feasible for the financial guaranty insurance corporation, that any prospectus which discloses that a policy of financial guaranty insurance has been…
Citator
Cal. Ins. Code § 12111 — Financial Guaranty Insurance is in force in the current edition of the Code, and nothing recorded condemns it.
An admitted financial guaranty insurance corporation shall adopt procedures reasonably calculated to ensure, to the extent it is commercially feasible for the financial guaranty insurance corporation, that any prospectus which discloses that a policy of financial guaranty insurance has been issued also discloses that in the event the financial guaranty insurance corporation were to become insolvent, any claims arising under the policies of financial guarantee insurance are excluded from coverage by the California Insurance Guaranty Association, established pursuant to Article 15.2 (commencing with Section 1063) of Chapter 1 of Part 2 of Division 1.