California Insurance Code 11460 – Members of the insurer who are in good standing prior to the …
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Members of the insurer who are in good standing prior to the transformation may thereafter transfer their insurance, without change of amount and without medical examination, from the assessment plan to the nonassessable reserve basis at the reserve rates. The interest and the assets of the insurer credited to the person so transferring shall become a part of the assets of the insurer on the reserve basis.
(Enacted by Stats. 1935, Ch. 145.)
Terms Used In California Insurance Code 11460
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19