GroundRules
INS § 12373
Where this section sits in the code
- Insurance Code - INS
- DIVISION 2. CLASSES OF INSURANCE [1880. - 12880.8.]
- PART 6. INSURANCE COVERING LAND [12340. - 12661.]
- CHAPTER 1. Title Insurance [12340. - 12418.4.]
- ARTICLE 3. Title Insurers: Finances and Investments [12370. - 12377.]
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.
Collected 2026-09-14T05:56:33Z. Source file · JSON