reglab/housing_qa huggingface dataset:
CA Ins Code § 1050 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1050.

1050.  In the event that said plan of mutualization is approved by said policyholders, the commissioner shall certify to the said court the fact of such approval and the number of votes cast for and against such mutualization plan. Said court shall thereupon issue its order directing the commissioner to give notice, as provided in said mutualization plan or as the court may otherwise prescribe, to the shareholders of such insurer of the approval of said mutualization plan by said policyholders. Said order shall direct the commissioner to transmit to each such shareholder by mail addressed to his address as it appears upon the records of such insurer, a true copy of said order and of said mutualization plan approved by said policyholders, and shall fix a time, not less than thirty nor more than sixty days from the date of such order, within which any such shareholder may file with said court a petition for the disapproval of said mutualization plan or for its modification in such manner as shall be set forth in such petition, and within which any such shareholder and the commissioner may file with said court a petition for the appointment of one or more appraisers to appraise the value of the then outstanding shares of capital stock of such insurer.(Amended by Stats. 1935, Ch. 291.)
CA Ins Code § 1051 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1051.

1051.  After the expiration of the time fixed in the order provided for in section 1050, and upon the filing of such petition, said court shall direct notice of a hearing of said petitions to be given to the commissioner and to such petitioners as are shareholders of such insurer. At such hearing, all petitions for the disapproval and all petitions for the modification of said mutualization plan shall be given precedence over all petitions for the appointment of one or more appraisers. Upon hearing of all such petitions for the disapproval and for the modification of said mutualization plan, said court shall either approve said mutualization plan or disapprove it or modify it in such manner and to such extent, not inconsistent with the provisions of this article, as to said court shall seem appropriate. In the event of the disapproval of said mutualization plan the court shall deny all petitions for the appointment of one or more appraisers. In the event of the approval or modification of said mutualization plan, the court shall, upon hearing of the petitions for the appointment of appraisers, appoint one or more appraisers, who shall appraise the then outstanding shares of the capital stock of such insurer, without regard to any appreciation or depreciation arising out of said mutualization plan as so approved or modified. Such appraisement shall fix the reasonable value of such shares of capital stock, including the goodwill, if any, of such insurer, and shall state the value, if any, assigned to such goodwill; and if the appraisers shall have found that such insurer has no goodwill, such finding shall be stated. Such appraisement, when confirmed by said court, shall be final and conclusive.(Amended by Stats. 1935, Ch. 291.)
CA Ins Code § 1052 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1052.

1052.  Thereupon the commissioner shall:(a) Pay to each of such shareholders or his assignee or nominee, upon surrender of the shares held by such shareholder, the value of said shares so ascertained; subject, however, to the restrictions of subdivisions (d) and (e) of section 1047, and subject, also, to the terms and conditions of the mutualization plan as approved or modified.(b) Appoint, with the approval of the court, the requisite number of directors in whom shall thereafter be vested the control and management of the assets and business of such insurer until their successors shall have been elected and qualified.(c) Transfer, upon the order of said court, to the appropriate officers appointed by such directors, the property, real and personal, and the books, records, accounts and papers of such insurer; provided, however, that the commissioner may retain, as a deposit, so much of such property as he deems necessary to defray additional costs and expenses incurred or to be incurred in connection with any proceeding under this article affecting such property or business.(Amended by Stats. 1935, Ch. 291.)
CA Ins Code § 1053 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1053.

1053.  Immediately upon the appointment of the directors as provided in subdivision (b) of section 1052, the directors theretofore holding office shall cease to hold office, and all rights of the shareholders of such insurer to vote at any meeting of such insurer shall absolutely cease and such shareholders shall retain only such interest in such corporation or in the property or assets thereof as shall be provided in said mutualization plan, and such insurer shall thereupon be and become a mutual life insurer under such corporate name as may have been set forth in its charter, as amended, to be conducted not for profit, but solely for the mutual benefit, ratably, of all its policyholders, and shall, upon issuance to it by the commissioner of a certificate of authority, have power to issue nonassessable policies on a reserve basis subject to all provisions of law applicable to incorporated life insurers issuing nonassessable policies on a reserve basis, but shall be exempt from the provisions of Chapter 7, Part 2, Division 2 of this code.(Amended by Stats. 1935, Ch. 291.)
CA Ins Code § 1054 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1054.

1054.  Such insurer, after mutualization, shall be a continuation of the original insurer, and such mutualization shall not affect existing suits, rights or contracts except as provided in said mutualization plan as approved. Such insurer, after mutualization, shall exercise all the rights and powers and perform all the duties conferred or imposed by law upon insurers writing the classes of insurance written by it, and to protect rights and contracts existing prior to mutualization, subject to the effect of said mutualization plan.(Added by Stats. 1935, Ch. 291.)
CA Ins Code § 1055 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1055.

1055.  The commissioner shall exercise the powers and discharge the duties, concerning any insurer so mutualized, that are applicable to domestic insurers issuing policies of the same class. He shall issue a certificate of authority to transact the proper classes of insurance in this State to any insurer so mutualized which is solvent under Article 13, Chapter 1, Part 2, Division 1 of this code and which has fully complied with the laws of this State.(Added by Stats. 1935, Ch. 291.)
CA Ins Code § 1056 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1056.

1056.  All costs and expenses connected with proceedings for the mutualization of such insurer shall be paid by the commissioner out of the funds of such insurer, whether or not mutualized, subject to the approval of said court.(Added by Stats. 1935, Ch. 291.)
CA Ins Code § 1056.5 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1056.5.

1056.5.  Whenever money or other property is payable to any claimant out of the assets of any person under the provisions of Sections 1021 to 1033, but such person cannot be located or for any other reason the payment of such money or other property to such person cannot be made, although assets are available for such payment, such money or other property shall be deposited in the State Treasury by the commissioner. Such deposits shall be deemed to have been received under the provisions of Chapter 7 (commencing with Section 1500) of Title 10 of Part 3 of the Code of Civil Procedure, and shall be subject to claim or other disposition as provided in said Chapter 7 (commencing with Section 1500) of Title 10. The commissioner may pay over the money or other property held by him to the persons respectively entitled thereto at any time prior to such deposit, upon being furnished satisfactory evidence of their right to the same.(Amended by Stats. 1963, Ch. 1762.)
CA Ins Code § 1057 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1057.

1057.  In all proceedings under this article, the commissioner shall be deemed to be a trustee for the benefit of all creditors and other persons interested in the estate of the person against whom the proceedings are pending.(Added by Stats. 1935, Ch. 291.)
CA Ins Code § 1058 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1058.

1058.  In any proceeding pending under the provisions of this article, the court in which such proceeding is pending shall have jurisdiction to hear and determine, in such proceeding, all actions or proceedings then pending or thereafter instituted by or against the person affected by a proceeding under this article.(Amended by Stats. 1939, Ch. 934.)
CA Ins Code § 1059 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1059.

1059.  The commissioner, in the performance of any of his duties under this article, shall be deemed to be a public officer acting in his official capacity on behalf of the State, and the provisions of Chapter 2, Division 7, Title 1 of the Government Code shall apply to him.(Amended by Stats. 1957, Ch. 386.)
CA Ins Code § 1060 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1060.

1060.  The commissioner shall transmit all of the following to the Governor, the Legislature, and to the committees of the Senate and Assembly having jurisdiction over insurance in the annual report submitted pursuant to Section 12922:(a) The names of the persons proceeded against under this article.(b) Whether such persons have resumed business or have been liquidated or have been mutualized.(c) Such other facts on the operations of the Conservation & Liquidation Office as will acquaint the Governor, the policyholders, creditors, shareholders and the public with his or her proceedings under this article, including, but not limited to:(1) An itemization of the number of staff, total salaries of staff, a description of the compensation methodology, and an organizational flowchart.(2) Annual operating goals and results.(3) A summary of all Conservation and Liquidation Office costs, including an itemization of internal and external costs, and a description of the methodology used to allocate those costs among insurer estates.(4) A list of all current insolvencies not closed within ten years of a court ordered liquidation, and a narrative explaining why each insolvency remains open.(5) An accounting of total claims by estate.(6) A list of current year and cumulative distributions by class of creditor for each estate.(7) For each proceeding, the net value of the estate at the time of conservation or liquidation and the net value at the end of the preceding calendar year.(d) Other facts on the operations of the individual estates as will acquaint the Governor, Legislature, policyholders, creditors, shareholders, and the public with his or her proceedings under this article, including, but not limited to:(1) The annual operating goals and results.(2) The status of the conservation and liquidation process.(3) Financial statements, including current and cumulative distributions, comparing current calendar year to prior year.(Amended by Stats. 2008, Ch. 751, Sec. 58. Effective September 30, 2008.)
CA Ins Code § 1061 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14 - Proceedings in Cases of Insolvency and Delinquency|Section 1061.

1061.  In verification of the matters set forth in Section 1060 of this code, the Department of Finance shall, at least every two years or more often if requested by the commissioner, examine the commissioner’s books and accounts relating to all proceedings under this article, and shall file a report of each examination with the court in which the respective proceeding is pending and shall furnish the commissioner a certified copy of each report. The expense of examining the books and accounts of the commissioner as conservator or liquidator under this article shall be paid out of the support appropriation for the Department of Insurance current at the date of billing for the expense and shall, upon order of the court or courts before which the proceedings under the articles are pending, be ratably reimbursed to that appropriation out of the assets of the estates administered by the commissioner as conservator or liquidator under this article.(Amended by Stats. 2012, Ch. 786, Sec. 15. (AB 2303) Effective January 1, 2013.)
CA Ins Code § 1063.3 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.3.

1063.3.  To aid in the detection and prevention of member insurer insolvencies:(a) The board may, upon majority vote, make recommendations to the commissioner on matters pertaining to regulation for solvency.(b) The board may prepare a report on the history and causes of any member insurer insolvency in which the association was obligated to pay covered claims, based on the information available to the association, and submit that report along with any recommendations resulting therefrom to the commissioner.(c) The board may request the Self-Insurers’ Security Fund to prepare, and the Self-Insurers’ Security Fund may provide to the board, a report identifying the aggregate amount of liability, including the estimated exposure for every insurance carrier admitted to transact workers’ compensation insurance in this state, under all specific excess workers’ compensation policies in existence for a given period in this state as reported by the private self-insured employers to the Director of Industrial Relations in the annual reports submitted pursuant to Section 3702.2 of the Labor Code.(Amended by Stats. 2005, Ch. 395, Sec. 2. Effective January 1, 2006.)
CA Ins Code § 1063.4 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.4.

1063.4.  (a) Insureds entitled to the protection of this article shall cooperate with the association in accordance with their policies in the same manner as they would have been required to cooperate with their insurer if it were not in liquidation and shall be deemed to have assigned to the association any right to make claim against the liquidator for a refund of unearned premium for the period of coverage provided by the association beginning on the date of the order of liquidation to the date of expiration or cancellation.(b) Any insured or claimant entitled to the benefits of this article who elects to proceed under this article shall be deemed to have assigned to the association his or her rights against the estate of the insolvent insurer.(Amended by Stats. 1994, Ch. 6, Sec. 6. Effective February 10, 1994.)
CA Ins Code § 1063.6 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.6.

1063.6.  All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in the state shall, subject to waiver by the association in specific cases involving covered claims and subject to waiver by the commissioner as to matters that are not covered claims, be stayed for 60 days from the date that an order of liquidation or an order of receivership with a finding of insolvency has been entered by a superior court in this state or by a court in the state of domicile of the insurer, and an additional time thereafter as may be determined necessary by the court to permit proper defense or conduct of all pending causes of action by the association or the commissioner, as applicable. The stay as to matters to which the insolvent insurer is a party shall be superseded by and when an injunction or stay order is entered by the court in this state having jurisdiction of the liquidation or the ancillary liquidation.The liquidator, receiver, or statutory successor of an insolvent member insurer shall permit reasonable access by the association to the insolvent insurer’s records as is necessary for the association to carry out its duties with regard to covered claims. In addition, the liquidator, receiver, or statutory successor shall provide the association with copies of these records upon the reasonable request of the association and at the expense of the association.(Amended by Stats. 1999, Ch. 83, Sec. 119. Effective January 1, 2000.)
CA Ins Code § 1063.7 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.7.

1063.7.  When a liquidator, domiciliary or ancillary, is appointed in this state for any member insurer, the liquidator shall promptly give notice of his or her appointment and a brief description of the contents of this article and of the nature and functions of the association by prepaid first-class mail, to: (a) all persons known or reasonably expected to have or be interested in claims against the insurer, at the last known address within this state; (b) all insureds of the insurer, at the last known address within this state, accompanied by a notice of the date of termination of insurance; and (c) the board of governors of the association. That notice may, but need not be, combined with the notice provided for in Section 1021. When notice is being provided by an ancillary liquidator, notice is only required to the extent information is available to provide the notice. The ancillary liquidator may also rely on the notice provided by the domiciliary liquidator to satisfy the notice requirements of this section. The liquidator may also require that producers of record of the insurer give prompt written notice of the same information, by first-class mail, to their insureds at the last known address within this state. The liquidator shall also promptly publish the notice pursuant to the requirements of Section 1022 and by publication elsewhere in this state as the court shall direct.(Amended by Stats. 2017, Ch. 417, Sec. 9. (AB 1696) Effective January 1, 2018.)
CA Ins Code § 1063.8 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.8.

1063.8.  Notwithstanding any other provision of law, the association shall be exempt from all license fees, income, franchise, privilege, property, or occupation taxes levied or assessed by this state, any municipality, county, or other political subdivision of this state. The rules of the commissioner promulgated pursuant to this article may exempt the association from: filing an annual statement, maintaining minimum required capital, paying any fees or reimbursements, or meeting any other requirement or doing any other thing required by this code or other laws relating to insurance.(Amended by Stats. 1970, Ch. 1205.)
CA Ins Code § 1063.9 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.9.

1063.9.  (a) The operation of the association shall at all times be subject to the regulation of the commissioner. The commissioner, or any deputy or examiner, or any person whom the commissioner shall appoint, shall have the power of visitation and examination into the affairs of the association and free access to all books, papers, and documents that relate to the business of the association, may summon and qualify witnesses under oath, and may examine officers, agents or employees, or any other person having knowledge of the affairs, transactions, or conditions of the association.(b) Any member insurer aggrieved by any action or decision of the association may appeal to the commissioner within 30 days after the action or decision of the association and after exhaustion of administrative remedies may seek court relief as provided in Section 12940.(Amended by Stats. 1970, Ch. 1205.)
CA Ins Code § 1063.10 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.10.

1063.10.  All orders or decisions of the commissioner made pursuant to Chapter 1347, Statutes of 1969 (of which this article is a part) and the provisions thereof as amended from time to time, shall be subject to judicial review as provided in Section 12940.(Amended by Stats. 1970, Ch. 1205.)
CA Ins Code § 1063.11 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 14.2 - California Insurance Guarantee Association|Section 1063.11.

1063.11.  The commissioner may, upon notice and opportunity for all interested parties to be heard, issue such rules, regulations and orders as may be necessary to carry out the provisions of this article. Such rules and regulations shall be adopted, amended or repealed in accordance with Chapter 4.5 (commencing with Section 11371) of Part 1 of Division 3 of Title 2 of the Government Code.(Added by Stats. 1969, Ch. 1347.)