California Insurance Guarantee Association Bond Funds

Cal. INS § 1063.71

California Statutes

(

a) The terms “member insurer,” “insolvent insurer,” and “covered claims” have the meanings assigned those terms in

Section 1063.1. (b) “Bank” means the California Infrastructure and Economic Development Bank created pursuant to

Article 1 (commencing with

Section 63020) of

Chapter 2, Division of Title 6.7 of the Government Code. (c) “Board” means the board of governors of CIGA. (d) “Bonds” means bonds issued by the Bank pursuant to

Article 8 (commencing with

Section 63049.6) of

Chapter of Division of Title 6.7 of the Government Code to provide funds for the payment of the covered claims and the adjusting and defense expenses relating to those claims that are issued at the request of the board pursuant to

Section 1063.73. (e) “Collateral” means the special bond assessments, the right of CIGA to be paid the special bond assessments, all revenues therefrom, the separate accounts of the Workers’ Compensation Bond Fund, the Homeowners’ and Automobile Bond Fund, and the Other Bond Fund into which special bond assessments are deposited, and the proceeds thereof. (f) “CIGA” means the California Insurance Guarantee Association, established pursuant to

Article 14.2 (commencing with

Section 1063). (g) “Commissioner” means the Insurance Commissioner. (h) “Department” means the Department of Insurance. (i) “Homeowners’ and Automobile Bond Fund” means the fund created pursuant to subdivision (

b) of

Section 1063.72. (j) “Other Bond Fund” means the fund created pursuant to subdivision (

c) of

Section 1063.72. (k) “Special bond assessment” means the premiums collected by CIGA pursuant to

Section 1063.74. (l) “Workers’ Compensation Bond Fund” means the fund created pursuant to subdivision (

a) of

Section 1063.72.

Document details

CollectionCalifornia Statutes
CitationCal. INS § 1063.71
Date2023-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierINS1063.71.20224089

California Insurance Guarantee Association Bond Funds

Cal. INS § 1063.71

California Statutes

California Insurance Guarantee Association Bond Funds

Cal. INS § 1063.71

California Statutes

(

a) The terms “member insurer,” “insolvent insurer,” and “covered claims” have the meanings assigned those terms in

Section 1063.1. (b) “Bank” means the California Infrastructure and Economic Development Bank created pursuant to

Article 1 (commencing with

Section 63020) of

Chapter 2, Division of Title 6.7 of the Government Code. (c) “Board” means the board of governors of CIGA. (d) “Bonds” means bonds issued by the Bank pursuant to

Article 8 (commencing with

Section 63049.6) of

Chapter of Division of Title 6.7 of the Government Code to provide funds for the payment of the covered claims and the adjusting and defense expenses relating to those claims that are issued at the request of the board pursuant to

Section 1063.73. (e) “Collateral” means the special bond assessments, the right of CIGA to be paid the special bond assessments, all revenues therefrom, the separate accounts of the Workers’ Compensation Bond Fund, the Homeowners’ and Automobile Bond Fund, and the Other Bond Fund into which special bond assessments are deposited, and the proceeds thereof. (f) “CIGA” means the California Insurance Guarantee Association, established pursuant to

Article 14.2 (commencing with

Section 1063). (g) “Commissioner” means the Insurance Commissioner. (h) “Department” means the Department of Insurance. (i) “Homeowners’ and Automobile Bond Fund” means the fund created pursuant to subdivision (

b) of

Section 1063.72. (j) “Other Bond Fund” means the fund created pursuant to subdivision (

c) of

Section 1063.72. (k) “Special bond assessment” means the premiums collected by CIGA pursuant to

Section 1063.74. (l) “Workers’ Compensation Bond Fund” means the fund created pursuant to subdivision (

a) of

Section 1063.72.

Document details

CollectionCalifornia Statutes
CitationCal. INS § 1063.71
Date2023-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierINS1063.71.20224089