Ins. Code, § 700.05 · Article 3. Certificate of Authority
Ins. Code, § 700.05
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) In determining the minimum amount of paid-in capital and surplus required by the applicable provisions of this code for admission of an insurer, there shall be included all of the classes of insurance transacted by it in the United States if an alien insurer, or in any jurisdiction if other than an alien insurer; provided, that life, title, mortgage or mortgage guaranty insurance shall not be included among the classes of insurance in determining the minimum amount of paid-in capital and surplus required if the minimum paid-in capital is two million six hundred thousand dollars ($2,600,000) or more, and if the paid-in capital is less than two million six hundred thousand dollars ($2,600,000) the minimum shall be measured by adding to the amounts set forth in Section 700.01 two million two hundred fifty thousand dollars ($2,250,000) for life insurance, two hundred fifty thousand dollars ($250,000) for mortgage insurance, one million dollars ($1,000,000) for mortgage guaranty insurance and two hundred fifty thousand dollars ($250,000) for title insurance.
In applying such provisions, it shall be conclusively presumed that an insurer transacts all classes of insurance for which it is or seeks to be admitted to transact in this state.
(b) As used in this section, “insurer” includes a reciprocal or interinsurance exchange and its attorney in fact.
Notes and commentary — not statutory text
History
Amended by Stats. 1989, Ch. 418, 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=700.05.
- Text hash
- sha256 327a546a22a0996b59f0ac744e5131d9c212255c9b401568097dbecbbe01b367
- 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 6 provisions
Provisions in this library whose text cites Ins. Code, § 700.05. Each shows the citation as that text prints it.
Insurance Code
- Ins. Code, § 700.025Printed as Sections 700.02 and 700.05
- Ins. Code, § 1311Printed as Sections 700.02, 700.03 and 700.05 of this code
- Ins. Code, § 10510Printed as Section 700.05
- Ins. Code, § 10512Printed as Section 700.05, 10510, and 10511
- Ins. Code, § 11600Printed as Sections 700.01 to 700.05, inclusive
- Ins. Code, § 12124Printed as Sections 700.01 to 700.05, inclusive
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.