DIVISION 2. CLASSES OF INSURANCE 1880-12880.6›PART 6. INSURANCE COVERING LAND 12340-12661›CHAPTER 2A. Mortgage Guaranty Insurance 12640.01-12640.20›ARTICLE 2. Capital, Surplus and Contingency Reserve Requirements 12640.03-12640.06

§ 12640.06

California Insurance Code · 2020-11 edition · updated 2026-10-04 · California

A mortgage guaranty insurer shall not declare any dividends except from undivided profits remaining on hand over and above the aggregate of its paid-in capital, paid-in surplus and contingency reserve.

(Added by Stats. 1961, Ch. 719.)

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California Insurance Code

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