DIVISION 1. GENERAL RULES GOVERNING INSURANCE 100-1879.8›PART 2. THE BUSINESS OF INSURANCE 680-1879.8›CHAPTER 2. Incorporated Insurers 1140-1260›ARTICLE 7. Valuation of Investments 1250-1254
§ 1254
California Insurance Code · 2018-11 edition · updated 2026-10-04 · California
Any asset of an insurer which is found by the commissioner to be insolvent or threatened with insolvency shall be reduced in value, if necessary, to reflect its proper value.
Where the asset is subject to an offset or lien which the commissioner has reasonable grounds to believe is about to be exercised or enforced, the commissioner may require that the asset and the liability which gives rise to the offset or lien be reduced proportionately.
The commissioner shall grant a hearing to establish the value of an asset upon written demand of the insurer.
(Added by Stats. 1967, Ch. 1614.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code