Statute · California Insurance Code
Cal. Ins. Code § 12640.06 — Capital, Surplus and Contingency Reserve Requirements
Cal. Ins. Code § 12640.06
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A mortgage guaranty insurer shall not declare any dividends except from undivided profits remaining on hand over and above the aggregate of its paid-in capital, paid-in surplus and contingency reserve.
Citator
Cal. Ins. Code § 12640.06 — Capital, Surplus and Contingency Reserve Requirements is in force in the current edition of the Code, and nothing recorded condemns it.
A mortgage guaranty insurer shall not declare any dividends except from undivided profits remaining on hand over and above the aggregate of its paid-in capital, paid-in surplus and contingency reserve.