Ins. Code, § 1063.71 · Article 14.26. California Insurance Guarantee Association Bond Funds
Ins. Code, § 1063.71
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The terms “member insurer,” “insolvent insurer,” and “covered claims” have the meanings assigned those terms in Section 1063.1.
(b) “Bank” means the California Infrastructure and Economic Development Bank created pursuant to Article 1 (commencing with Section 63020) of Chapter 2, Division 1 of Title 6.7 of the Government Code.
(c) “Board” means the board of governors of CIGA.
(d) “Bonds” means bonds issued by the Bank pursuant to Article 8 (commencing with Section 63049.6) of Chapter 2 of Division 1 of Title 6.7 of the Government Code to provide funds for the payment of the covered claims and the adjusting and defense expenses relating to those claims that are issued at the request of the board pursuant to Section 1063.73.
(e) “Collateral” means the special bond assessments, the right of CIGA to be paid the special bond assessments, all revenues therefrom, the separate accounts of the Workers’ Compensation Bond Fund, the Homeowners’ and Automobile Bond Fund, and the Other Bond Fund into which special bond assessments are deposited, and the proceeds thereof.
(f) “CIGA” means the California Insurance Guarantee Association, established pursuant to Article 14.2 (commencing with Section 1063).
(g) “Commissioner” means the Insurance Commissioner.
(h) “Department” means the Department of Insurance.
(i) “Homeowners’ and Automobile Bond Fund” means the fund created pursuant to subdivision (b) of Section 1063.72.
(j) “Other Bond Fund” means the fund created pursuant to subdivision (c) of Section 1063.72.
(k) “Special bond assessment” means the premiums collected by CIGA pursuant to Section 1063.74.
(l) “Workers’ Compensation Bond Fund” means the fund created pursuant to subdivision (a) of Section 1063.72.
Notes and commentary — not statutory text
History
Amended by Stats. 2022, Ch. 408, Sec. 9. (AB 2154) Effective January 1, 2023.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=1063.71.
- Text hash
- sha256 10cf790b915807a7853672ccf2b83fd1118e6ef5ad3f166be30d3c931d94bef9
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Insurance Code
- Ins. Code, div. 1, pt. 2, ch. 1, art. 14.2California Insurance Guarantee AssociationPrinted as Article 14.2 (commencing with Section 1063)
- Ins. Code, § 1063.1Printed as Section 1063.1
- Ins. Code, § 1063.72Printed as Section 1063.72
- Ins. Code, § 1063.73Printed as Section 1063.73
- Ins. Code, § 1063.74Printed as Section 1063.74
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.