Cal. INS § 4061
This is the official text of Cal. INS § 4061, part of California’s Insurance Code — regulates insurance companies and the insurance policies sold in California.
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Official statutory text
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.
Status: in_force · Read it on the official government site
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