Statute · California Insurance Code
Cal. Ins. Code § 12373 — Title Insurers: Finances and Investments
Cal. Ins. Code § 12373
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:
Citator
Cal. Ins. Code § 12373 — Title Insurers: Finances and Investments is in force in the current edition of the Code, and nothing recorded condemns it.
A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:
(a) The aggregate par value of the shares of its capital stock issued and outstanding, including treasury shares;
(b) The amount required to be set apart as the title insurance surplus fund;
(c) The amount required to be maintained in the unearned premium reserve;
(d) The amount required to be maintained in the reserve for unpaid losses and loss adjustment expense;
(e) A sum sufficient to pay all liabilities for expenses and taxes and all other indebtedness.