Ins. Code, § 1583 · Article 2. Alien Insurers
Ins. Code, § 1583
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The deposit required by Section 1581
(a) Shall be continuously maintained so long as any obligation arising out of any insurance transacted by such alien insurer in the United States remains in existence for any purpose whatever;
(b) Shall consist of securities authorized for investment of the assets of domestic incorporated insurers;
(c) Shall be in addition to any deposits required by law for purposes other than those specified in Section 1586;
(d) May be made with the insurance authority, or with the auditor, controller or general fiscal officer of any State of the United States in which such alien insurer is authorized to transact insurance, or otherwise held in trust as provided by the laws of the State of deposit, for the purposes specified in Section 1586.
Notes and commentary — not statutory text
History
Repealed and added by Stats. 1941, Ch. 51.
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=1583.
- Text hash
- sha256 58bf19e96e6566640a84f84ef5cebc96b33e765d75b10197f63f4351f6678f8f
- 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
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