Statute · California Insurance Code
Cal. Ins. Code § 12386 — Unearned Premium Reserve and Reserve for Unpaid Losses and Loss Expense
Cal. Ins. Code § 12386
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
In the event that reinsurance is not obtained, as authorized by Section 12385, the unearned premium reserve and assets constituting the guarantee fund of the title insurer, or so much as remains thereof after outstanding claims have been paid, shall constitute a trust fund to be held by the…
Citator
Cal. Ins. Code § 12386 — Unearned Premium Reserve and Reserve for Unpaid Losses and Loss Expense is in force in the current edition of the Code, and nothing recorded condemns it.
In the event that reinsurance is not obtained, as authorized by Section 12385, the unearned premium reserve and assets constituting the guarantee fund of the title insurer, or so much as remains thereof after outstanding claims have been paid, shall constitute a trust fund to be held by the commissioner for twenty (20) years, out of which claims of policyholders shall be paid as they arise. The balance, if any, of such fund shall, at the expiration of twenty (20) years, constitute general assets of the title insurer.