DIVISION 2. CLASSES OF INSURANCE 1880-12880.5›PART 1. FIRE AND MARINE INSURANCE 1880-10108.1›CHAPTER 5. County Mutual Fire Insurers 5050-7060›ARTICLE 1. Formation and Organization 5050-5063
§ 5062
California Insurance Code · 2018-11 edition · updated 2026-10-04 · California
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.
(Added by Stats. 1955, Ch. 1250.)
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