There is a newer version of the California Code
2011 California Code
Insurance Code
DIVISION 2. CLASSES OF INSURANCE [1880 - 12865]
ARTICLE 8. Assessments
Section 7010
CA Ins Code § 7010 (through 2012 Leg Sess) What's This?
When any loss exceeds in amount the cash funds of the insurer and also exceeds one-eighth of one per cent of the total amount of the insurer s insurance in force, its president shall convene its directors to make an assessment.
(Enacted by Stats. 1935, Ch. 145.)
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