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Earlier editions: 2020-112018-11

DIVISION 2. CLASSES OF INSURANCE 1880-12880.8›PART 1. FIRE AND MARINE INSURANCE 1880-10108.1›CHAPTER 4. General Mutual Insurers 4010-4097.20›ARTICLE 6. Nonassessable Policies 4060-4064

§ 4061

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

The commissioner shall not authorize a domestic insurer to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all such policies for all kinds of insurance transacted by it. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued when the insurer had an unrevoked certificate to issue nonassessable policies.

(Added by Stats. 1963, Ch. 1772.)

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California Insurance Code

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