Ins. Code, § 12373 · Article 3. Title Insurers: Finances and Investments
Ins. Code, § 12373
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:
(a) The aggregate par value of the shares of its capital stock issued and outstanding, including treasury shares;
(b) The amount required to be set apart as the title insurance surplus fund;
(c) The amount required to be maintained in the unearned premium reserve;
(d) The amount required to be maintained in the reserve for unpaid losses and loss adjustment expense;
(e) A sum sufficient to pay all liabilities for expenses and taxes and all other indebtedness.
Notes and commentary — not statutory text
History
Amended by Stats. 1965, Ch. 272.
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=12373.
- Text hash
- sha256 7c17319cd4aae2b9ef582fddfb5493b802eb7ec828f651aca5e93e15161b7482
- 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
Cited by 1 provision
Provisions in this library whose text cites Ins. Code, § 12373. Each shows the citation as that text prints it.
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.