Ins. Code, § 12640.03 · Article 2. Capital, Surplus and Contingency Reserve Requirements

Ins. Code, § 12640.03

Verbatim from the official edition

Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)

An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in surplus of at least one million dollars ($1,000,000).

Notes and commentary — not statutory text

History

Added by Stats. 1961, Ch. 719.

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&sectionNum=12640.03.
Text hash: sha256 2141b6842da630e701536a1a35dd608ebcd7009f3c81895229786782d4f5c283
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 3 provisions

Provisions in this library whose text cites Ins. Code, § 12640.03. Each shows the citation as that text prints it.

Insurance Code

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.