Statute · California Insurance Code
Cal. Ins. Code § 12640.03 — Capital, Surplus and Contingency Reserve Requirements
Cal. Ins. Code § 12640.03
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in surplus of at least one million dollars ($1,000,000).
Citator
Cal. Ins. Code § 12640.03 — Capital, Surplus and Contingency Reserve Requirements is in force in the current edition of the Code, and nothing recorded condemns it.
An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in surplus of at least one million dollars ($1,000,000).