Statute · California Insurance Code
Cal. Ins. Code § 5062 — Formation and Organization
Cal. Ins. Code § 5062
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
No incorporators or persons acting in their behalf or other persons participating in the management of such insurer shall advance to or for the subscribers or members any premium, special deposit or assessment required to be paid. It is the intent of this chapter that no person shall have a…
Citator
Cal. Ins. Code § 5062 — Formation and Organization is in force in the current edition of the Code, and nothing recorded condemns it.
No incorporators or persons acting in their behalf or other persons participating in the management of such insurer shall advance to or for the subscribers or members any premium, special deposit or assessment required to be paid. It is the intent of this chapter that no person shall have a proprietary interest in such insurer, except equally with all other members.