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Earlier editions: 2020-112018-11

DIVISION 2. CLASSES OF INSURANCE 1880-12880.8›PART 4. MISCELLANEOUS CASUALTY INSURANCES 12050-12129›CHAPTER 1. Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances 12050-12122›ARTICLE 1. Capital and Scope of Business 12050-12055

§ 12051

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

During the first three years following its admission, the insurer’s assets in an amount equal to its required paid-in capital shall be in cash or in the value of obligations, purchase of which is approved by the commissioner, of the United States government, any State, or any county in this State.

(Enacted by Stats. 1935, Ch. 145.)

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California Insurance Code

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