reglab/housing_qa huggingface dataset:
CA Ins Code § 4052 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 5 - Dividends to Policyholders|Section 4052.

4052.  The payment of any such dividends on a workers’ compensation policy shall be subject to the provisions of Section 11738 and for that purpose a mutual policy shall be considered to be a participating policy.(Amended by Stats. 2018, Ch. 231, Sec. 13. (AB 2045) Effective January 1, 2019.)
CA Ins Code § 4060 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 6 - Nonassessable Policies|Section 4060.

4060.  A domestic mutual insurer while maintaining unimpaired surplus funds not less in amount than one and one-half times the minimum paid-in capital stock required of a domestic stock insurer formed under this code for authority to transact the same class or classes of insurance, may, upon receipt of the commissioner’s certificate so authorizing, extinguish the contingent liability to assessment of its members as to all its policies in force and may omit provisions imposing contingent liability in all policies currently issued. A fee of two hundred eighty-three dollars ($283) shall accompany any application for that certificate.(Amended by Stats. 2017, Ch. 534, Sec. 52. (AB 1699) Effective January 1, 2018.)
CA Ins Code § 4061 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 6 - Nonassessable Policies|Section 4061.

4061.  The commissioner shall not authorize a domestic insurer to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all such policies for all kinds of insurance transacted by it. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued when the insurer had an unrevoked certificate to issue nonassessable policies.(Added by Stats. 1963, Ch. 1772.)
CA Ins Code § 4062 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 6 - Nonassessable Policies|Section 4062.

4062.  A foreign or alien mutual insurer may issue nonassessable policies to its members in this State pursuant to its charter and the laws of its domicile.(Added by Stats. 1963, Ch. 1772.)
CA Ins Code § 4063 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 6 - Nonassessable Policies|Section 4063.

4063.  The commissioner shall revoke the certificate of a domestic mutual insurer to issue policies without contingent liability if(a) At any time the insurer’s assets are less than the sum of its liabilities and the surplus required for such certificate, or(b) The insurer, by resolution of its board of directors approved by a majority of its members, requests that the certificate be revoked.(Added by Stats. 1963, Ch. 1772.)
CA Ins Code § 4064 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 6 - Nonassessable Policies|Section 4064.

4064.  During the absence of such certificate the insurer shall not issue any policy without providing therein for the contingent liability of the policyholder, nor renew any policy which is then in force without endorsing the same to provide for such contingent liability.(Added by Stats. 1963, Ch. 1772.)
CA Ins Code § 4070 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 7 - Insolvency|Section 4070.

4070.  Such an insurer is insolvent if its surplus becomes less than the amount of paid-in capital required of a capital stock company to qualify to transact the same classes of insurance.(Added by Stats. 1963, Ch. 1772.)
CA Ins Code § 4080 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 8 - Applicable Insurance Laws|Section 4080.

4080.  Such an insurer shall be subject to all the provisions of this code and all the applicable rules and regulations of the commissioner. Such code provisions and such rules and regulations, when applied to such insurers, shall be construed in accordance with the fundamental nature of a mutual insurer. In the event of any direct conflicts between such code provisions and the provisions of this chapter, the latter shall prevail. Such other code provisions may, however, be used to supplement or explain the provisions of this chapter.(Added by Stats. 1963, Ch. 1772.)
CA Ins Code § 4081 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 8 - Applicable Insurance Laws|Section 4081.

4081.  Any county mutual fire insurer, or two or more such insurers, may merge into a general mutual insurer described in this chapter by following the procedure in Article 9.5 (commencing with Section 7040) of Chapter 5, Part 1, Division 2 of this code. Such general mutual insurer shall become the surviving corporation.In addition, by following the above-mentioned procedure any two or more county mutual fire insurers may merge, concurrently with the transformation of one of them into a general mutual insurer described herein, as provided in Section 7044. 5.(Added by Stats. 1967, Ch. 455.)
CA Ins Code § 4090 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 9 - Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities|Section 4090.

4090.  By following the procedure specified in this article, any domestic mutual insurer described in this article may merge, consolidate, or otherwise unite with or become a part of, or may reinsure all of its policies with and, upon assumption of all of its liabilities, may transfer all of its assets to, another insurer, domestic or foreign. Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the Corporations Code and Article 1 (commencing with Section 11535) of Chapter 14 of Part 2 of Division 2 do not apply to any such transaction.(Amended by Stats. 1995, Ch. 728, Sec. 4. Effective January 1, 1996.)
CA Ins Code § 4091 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 9 - Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities|Section 4091.

4091.  The plan and agreement by which any such transaction is to be effected shall be approved by a resolution of the majority of the board of directors of each domestic mutual insurer reciting the reasons for and the purposes of the proposed transaction and the manner in which the transaction is expected to benefit and serve the best interests of the domestic mutual insurer and its members. The plan and agreement shall thereafter be submitted to the commissioner, who shall examine the same and require such provisions to be inserted in the agreement and such actions to be taken in connection with the transaction including, but not limited to the following:(a) The terms and conditions of the transaction.(b) Any fee, commission, or other valuable consideration whatsoever, other than regular salary and compensation paid to any director, officer, agent, or employee of the domestic mutual insurer in connection with the transaction.(c) At the expense of the applicant, an opinion as to the fairness of the terms of the plan and an appraisal of the fair value of each insurer, together with the respective equity interests of the members therein, by one or more qualified disinterested persons appointed by the domestic mutual insurer with the approval of the commissioner unless the commissioner finds that such an opinion or appraisal is not necessary to protect the interests of current members of the domestic mutual insurer.(d) The contents of the notice of the vote on the transaction by the members of each domestic mutual insurer that is a party thereto.(e) The manner and form of voting thereon by the members of each such domestic mutual insurer.(f) Any other change as the commissioner may deem necessary in order that the transaction may be fair, just, and equitable to the parties to the transaction and their respective policyholders, owners, creditors, and the public.(Amended by Stats. 1995, Ch. 728, Sec. 5. Effective January 1, 1996.)
CA Ins Code § 4092 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 9 - Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities|Section 4092.

4092.  When any such plan and agreement shall have been approved by the commissioner, with any changes required by him, the same shall be approved in the case of each domestic mutual insurer that is a party to the transaction by not less than two-thirds of the votes cast by the members thereof represented in person or by proxy at a meeting called to consider the same. At least 30 days before the day fixed for the meeting, notice of such meeting and its purpose shall be given to the members at their addresses appearing on the books maintained at the home office of the insurer. With respect to members whose addresses do not appear on such books of the insurer, notice shall be deemed to have been given if published at least once in some newspaper of general circulation in the county in which the principal office of the insurer is located. At such meeting the presence in person or by proxy of 10 percent of such members of such insurer shall constitute a quorum. In the absence of a quorum the members present at the meeting in person or by proxy may adjourn the meeting to a later date. No further notice need be given of the date to which the meeting is adjourned.(Added by Stats. 1975, Ch. 824.)
CA Ins Code § 4093 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 9 - Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities|Section 4093.

4093.  If the vote is in the affirmative, a certified copy of all proceedings relating to the proposed transaction shall be filed with the commissioner. If one of the insurers that is a party to the transaction is a foreign corporation there shall also be filed with the commissioner evidence of an approval, consent, or authorization as may be required by the laws of the state of incorporation of the foreign insurer. If the commissioner finds that the proceedings have been in accordance with the law and the commissioner’s requirements, he or she shall issue a certificate approving the plan and agreement and the transaction shall become effective when the certificate, the agreement, and any other documents required by law have been filed with the Secretary of State.The fee for issuing the certificate approving the transaction shall be six thousand three hundred fifty dollars ($6,350), payable in advance with the filing with the commissioner of the first papers relating to the proposed transaction; eight dollars ($8) shall be charged for each signed and sealed or certified copy thereof issued as part of the same transaction in which the original certificate is issued.(Amended by Stats. 2017, Ch. 534, Sec. 53. (AB 1699) Effective January 1, 2018.)
CA Ins Code § 4094 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 9 - Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities|Section 4094.

4094.  Any plan of merger, consolidation, or other unification under this article shall provide that all rights and properties of the parties to the plan of merger, consolidation or other unification shall accrue to and become the rights and properties of the surviving or consolidated or continuing corporation which shall succeed to and assume all the obligations and liabilities of the merged, consolidating, or transferring corporation in the same manner as if incurred or contracted by the surviving, consolidated, or continuing corporation.(Added by Stats. 1975, Ch. 824.)
CA Ins Code § 4095 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 9 - Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities|Section 4095.

4095.  In the event a mutual insurer is merged, consolidated, or part of a reorganization under the procedures specified in this article, and the surviving, consolidated, or continuing company is an incorporated stock insurer, the plan shall provide for the manner of converting or exchanging the equity interests of current members in the domestic mutual insurer into shares, subscription rights, warrants, options, cash, dividends, premium credits, certificates of contribution, or any other interests that may be provided in the plan. However, notwithstanding the foregoing, the equity interest of a policyholder in the mutual insurer may be converted or exchanged solely into premium credits if the plan and agreement shall so provide, but only at the policyholder’s election. Any person holding a subscription note or other debt instrument evidencing a capital contribution to the domestic mutual insurer shall be entitled upon demand to have the note or debt instrument redeemed for cash or securities as provided in the plan. The plan may provide for additional securities to be sold to directors, officers, employees, and former members of the domestic mutual insurer in accordance with the provisions of Article 8 (commencing with Section 820) of Chapter 1 of Part 2 of Division 1. Nothing in this section shall preclude the issuance of different securities, subject to the approval of the commissioner, provided that comparable securities shall be issued at prices not less than the conversion or exchange values of any such securities distributed to current policyholders. Notwithstanding any other provision of law, conversion or exchange constitutes full payment and discharge of the members’ property interest in the domestic mutual insurer and the members have no other rights with respect thereto, except for rights relating to a continuing debt or equity interest that a former member holds in the surviving insurer.(Added by Stats. 1995, Ch. 728, Sec. 7. Effective January 1, 1996.)
CA Ins Code § 4096 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 9 - Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities|Section 4096.

4096.  In the event a domestic mutual insurer is merged, consolidated, or a part of a reorganization under the procedures specified in this article, and the surviving, consolidated, or continuing company is a nonadmitted insurer, the plan of merger shall provide either for that insurer to be admitted to transact insurance in California or for any nonsurviving insurer admitted in California to withdraw from the state.(Added by Stats. 1995, Ch. 728, Sec. 8. Effective January 1, 1996.)
CA Ins Code § 4097 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 10 - Conversion of an Incorporated Medical Malpractice Mutual Insurer into an Incorporated Stock Insurer|Section 4097.

4097.  (a) A domestic incorporated medical malpractice mutual insurer, issuing nonassessable policies on a reserve basis may be converted into an incorporated stock insurer issuing, on a reserve basis, nonassessable policies either by demutualization or by establishing a mutual holding company. To that end, it may provide and carry out a plan for the conversion by complying with the requirements of this article.(b) A mutual holding company may be converted into a stock corporation. To that end, it may provide and carry out a plan for the conversion by complying with the requirements of this article.(c) As part of the conversion authorized in this section, a domestic incorporated medical malpractice mutual insurer may merge with an incorporated stock insurer, if the merging insurers comply with the provisions of Article 9 (commencing with Section 4090) applicable to their participation in the merger, or may transfer its domicile to any other state, if the insurer complies with Section 709.5.(Added by Stats. 1998, Ch. 421, Sec. 4. Effective January 1, 1999.)
CA Ins Code § 4097.03 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 10 - Conversion of an Incorporated Medical Malpractice Mutual Insurer into an Incorporated Stock Insurer|Section 4097.03.

4097.03.  For the conversion of a medical malpractice mutual insurer, the plan of conversion shall provide for either a demutualization in compliance with Section 4097.04 or for a mutual holding company in compliance with Section 4097.05. For the conversion of a mutual holding company, the plan of conversion shall provide for demutualization in compliance with Section 4097.04.(Added by Stats. 1998, Ch. 421, Sec. 4. Effective January 1, 1999.)
CA Ins Code § 4097.05 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 10 - Conversion of an Incorporated Medical Malpractice Mutual Insurer into an Incorporated Stock Insurer|Section 4097.05.

4097.05.  A plan of conversion adopted by a medical malpractice mutual insurer to establish a mutual holding company shall provide that the medical malpractice mutual insurer will become a stock insurer, that the members of the medical malpractice mutual insurer will become members of a mutual holding company, that the mutual holding company will acquire at least 51 percent of the voting stock of the stock holding company, and that the stock holding company will acquire all of the voting stock of the converted insurer.(Added by Stats. 1998, Ch. 421, Sec. 4. Effective January 1, 1999.)
CA Ins Code § 4097.06 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 1 - FIRE AND MARINE INSURANCE|CHAPTER 4 - General Mutual Insurers|ARTICLE 10 - Conversion of an Incorporated Medical Malpractice Mutual Insurer into an Incorporated Stock Insurer|Section 4097.06.

4097.06.  (a) The commissioner shall examine the plan submitted pursuant to subdivision (b) of Section 4097.02. If the plan provides for the establishment of a mutual holding company under Section 4097.05, the mutual insurer shall demonstrate that the issuance of stock:(1) Will not require members to pay additional funds to retain their rights in surplus, but nothing herein is intended to prohibit or restrict a mutual insurer that is converting to a stock insurer by establishing a mutual holding company from offering to its members subscription rights that are in addition to the rights in surplus to be held in the mutual holding company.(2) Issued to officers, directors, employees, or employee benefit plans for their benefit, if any, will be fair, just and equitable and not hazardous to policyholders, stockholders, or creditors.(3) Provides sufficient means for the accumulated earnings, cash, and other non-operating assets held by the mutual holding company to inure to the exclusive benefit of its members.(b) As part of the examination the commissioner shall order a public hearing on the plan after written notice of the hearing to the mutual company, its members, and the public. Members of the mutual company, their representatives, and the public shall have the right to appear at the public hearing and to submit written comments to the commissioner. The hearing shall occur before the policyholder vote. The commissioner may require as a condition of consent that the mutual company make modifications of the proposed plan that the commissioner finds necessary for the protection of policyholders. The commissioner shall consent to the plan if he or she finds all of the following:(1) For the conversion of a mutual insurer, the plan is fair, just, and equitable to the insurer and its policyholders.(2) For the conversion of a mutual holding company, the plan is fair, just, and equitable to the company, its members, and the policyholders of the converted insurer.(3) The plan does not violate the law.(4) The converted insurer will, after the conversion, satisfy the requirements for the issuance of a license to write the line or lines of insurance for which it is presently licensed.(c) For the conversion of a mutual company, the commissioner may appoint one or more actuarial, financial, or other consultants, including legal counsel, as the commissioner finds necessary to advise the commissioner in making the determination of whether the proposed plan of conversion meets the applicable requirements of this article. The mutual company is responsible for the reasonable fees and expenses of any actuarial, financial, or other consultants, including legal counsel, appointed, and for the mailing and publication of notices to the mutual company and its members.(Added by Stats. 1998, Ch. 421, Sec. 4. Effective January 1, 1999.)