Ins. Code, § 700.02 · Article 3. Certificate of Authority
Ins. Code, § 700.02
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
No insurer shall be issued a certificate of authority other than a renewal certificate of authority for any of the classes set forth in Section 100 unless at the time of such issuance it possesses, in addition to the minimum paid-in capital required by this code a surplus of not less than 100 percent of the minimum paid-in capital required.
As used in this section, surplus means the excess of admitted assets over the sum of (1) liabilities for losses reported, expenses, taxes and all other indebtedness and reinsurance of outstanding risks as provided by law, and (2) paid-in capital, in the case of an insurer issuing or having outstanding shares of capital stock, or (3) the minimum paid-in capital required, in the case of any other insurer.
Notes and commentary — not statutory text
History
Amended by Stats. 1982, Ch. 389, Sec. 2.
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=700.02.
- Text hash
- sha256 f2da2c7d4f0ec93d8ae49aa6cc2982f54aee41ee27678a768d1da0ca21a01ba4
- 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
Cited by 9 provisions
Provisions in this library whose text cites Ins. Code, § 700.02. Each shows the citation as that text prints it.
Insurance Code
- Ins. Code, § 700.025Printed as Sections 700.02 and 700.05
- Ins. Code, § 700.03Printed as Section 700.02
- Ins. Code, § 1104.9Printed as Section 700.02
- Ins. Code, § 1210Printed as Section 700.02
- Ins. Code, § 1282Printed as Sections 700.01, 700.02, 700.03, and 700.04
- Ins. Code, § 1311Printed as Sections 700.02, 700.03 and 700.05 of this code
- Ins. Code, § 1374.1Printed as Sections 700.01, 700.02, and 700
- Ins. Code, § 10510Printed as Section 700.02
- Ins. Code, § 12125Printed as Sections 700.01, 700.02, 10510, and 10511
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.