Statute · California Insurance Code
Cal. Ins. Code § 4050 — Dividends to Policyholders
Cal. Ins. Code § 4050
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represents net realized savings, net realized earnings, and net realized capital gains, all in excess of a surplus equivalent to…
Citator
Cal. Ins. Code § 4050 — Dividends to Policyholders is in force in the current edition of the Code, and nothing recorded condemns it.
The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represents net realized savings, net realized earnings, and net realized capital gains, all in excess of a surplus equivalent to the aggregate of paid-in capital and unassigned surplus required by this code for the issuance of a certificate of authority to a capital stock insurer transacting the same classes of insurance.