Statute · California Insurance Code
Cal. Ins. Code § 12920.5 — Generally
Cal. Ins. Code § 12920.5
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 2022-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
In addition to and independent of any and all other proper causes for refusal by the commissioner to approve or accept any bond filed or presented for filing with the commissioner under any provision of this code or other laws, the commissioner shall decline to approve, accept, or file any bond,…
Citator
Cal. Ins. Code § 12920.5 — Generally is in force in the current edition of the Code, and nothing recorded condemns it.
In addition to and independent of any and all other proper causes for refusal by the commissioner to approve or accept any bond filed or presented for filing with the commissioner under any provision of this code or other laws, the commissioner shall decline to approve, accept, or file any bond, if, in the commissioner’s opinion, the principal and the surety are affiliated in any manner whereby insolvency of the one party would affect the solvency of the other or whereby it is made uncertain whether or not that result might occur.