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
§ 8091
California Insurance Code · 2018-11 edition · updated 2026-10-04 · California
When the amount of such loss does not exceed one-eighth of one per cent of the total amount of insurance in force in the reinsurer, the directors may, by resolution in writing signed by two-thirds of all the directors while present at a meeting, borrow in the name of the reinsurer and give its evidence of indebtedness therefor, in an amount not exceeding one-eighth of one per cent of the total amount of such insurance in force.
(Enacted by Stats. 1935, Ch. 145.)
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