Cal. INS § 5062
This is the official text of Cal. INS § 5062, part of California’s Insurance Code — regulates insurance companies and the insurance policies sold in California.
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Official statutory text
No incorporators or persons acting in their behalf or other persons participating in the management of such insurer shall advance to or for the subscribers or members any premium, special deposit or assessment required to be paid. It is the intent of this chapter that no person shall have a proprietary interest in such insurer, except equally with all other members.
Status: in_force · Read it on the official government site
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