California Insurance Code 12104 – An admitted financial guaranty insurance corporation shall be subject …
Current as of: 2024 | Check for updates
|
Other versions
An admitted financial guaranty insurance corporation shall be subject to all of the provisions of this code applicable to property and casualty insurers to the extent that the provisions are not inconsistent with the provisions of this article.
(Repealed and added by Stats. 1990, Ch. 1032, Sec. 6.)
Terms Used In California Insurance Code 12104
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Financial guaranty insurance: means a surety bond, an insurance policy or, when issued by an insurer, an indemnity contract and any guarantee similar to the foregoing types, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee, or indemnitee as a result of any of the following events:
California Insurance Code 12100