DIVISION 2. CLASSES OF INSURANCE 1880-12880.5›PART 2. LIFE AND DISABILITY INSURANCE 10110-11549›CHAPTER 6. Incorporated Life Insurers Issuing Policies on a Reserve Basis 10510-10541›ARTICLE 1. Capital 10510-10512
§ 10510
California Insurance Code · 2018-11 edition · updated 2026-10-04 · California
An incorporated life insurer issuing policies on the reserve basis shall not transact life insurance in this state unless it has a paid-in capital of at least two million two hundred fifty thousand dollars ($2,250,000) plus the surplus required by Section 700.02 and Section 700.05.
(Amended by Stats. 1989, Ch. 418, Sec. 3.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code