Ins. Code, § 11128 · Article 7. Financial Matters
Ins. Code, § 11128
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
Notes and commentary — not statutory text
History
Amended by Stats. 1982, Ch. 454, Sec. 114.
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=11128.
- Text hash
- sha256 b04f4f6d2280b9987f2eba9db3a604fb5fca18e6ef9040fdb393a477ed01e02b
- 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
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