Earlier editions: 2020-112018-11
DIVISION 2. CLASSES OF INSURANCE 1880-12880.8›PART 2. LIFE AND DISABILITY INSURANCE 10110-11549›CHAPTER 10. Fraternal Benefit Societies 10970-11165›ARTICLE 7. Financial Matters 11120-11146
§ 11128
California Insurance Code · 2026 edition · updated 2026-10-04 · California
The value of the trusteed assets referred to in Section 11127 shall be equal to the sum of all of the following:
(a) All of the indebtedness of that society in the United States having a fixed maturity.
(b) The percentage, specified in subdivision (c), of that part of the tabular reserve which is applicable to its United States business in force.
(c) If the valuation report prescribed by Section 11133 indicates that the degree of actuarial solvency of the society is 100 percent or greater, the percentage prescribed in subdivision (b) is 100 percent. Otherwise the percentage prescribed in subdivision (b) is that percentage, less than 100 percent, which is indicated in the valuation report to be the degree of that society’s actuarial solvency. The society may maintain those trusteed assets in excess of the value herein prescribed.
(Amended by Stats. 1982, Ch. 454, Sec. 114.)
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