DIVISION 2. CLASSES OF INSURANCE 1880-12880.5›PART 1. FIRE AND MARINE INSURANCE 1880-10108.1›CHAPTER 6. County Mutual Fire Reinsurers 7080-9060›ARTICLE 6. Assessments and Coverage of Loss 8090-8097
§ 8090
California Insurance Code · 2018-11 edition · updated 2026-10-04 · California
When the amount of any ascertained loss exceeds the cash funds of the reinsurer and also exceeds one-eighth of one per cent of the total amount of the insurance in force in the reinsurer, the president shall convene its directors. On so convening, the directors shall assess each member in proportion to the member’s reinsurance, taken in connection with the rate of premium under which such reinsurance is classified.
(Enacted by Stats. 1935, Ch. 145.)
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