California § 1046 - Said mutualization plan shall include provisions for: (a) The acquisition by such
Full text of California Public Contract Code - PCC § 1046 — Said mutualization plan shall include provisions for: (a) The acquisition by such, with citation guidance and answers to common questions.
§ 1046. Said mutualization plan shall include provisions for: (a) The acquisition by such
Said mutualization plan shall include provisions for: (a) The acquisition by such insurer of all outstanding shares of its capital stock at a price and upon terms and conditions to be fixed as hereinafter provided. (b) The retirement of said shares of stock when acquired by such insurer. (c) The amendment of the charter of such insurer so as to enable it to transact its business as a mutual insurer issuing nonassessable policies on a reserve basis. (d) The manner in which and the time within which, after mutualization is effected, matured and maturing claims against such insurer shall be paid to the lawful holders thereof. (e) The submission of said mutualization plan to the policyholders of such insurer under such procedure as shall be set forth in the plan or prescribed by said court, for their approval or rejection. (f) Notice to the shareholders of such insurer, in such manner and at such time after the approval of said mutualization plan by said policyholders, as the court may direct.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 1046
What does Public Contract Code - PCC § 1046 cover?
Section 1046 ("Said mutualization plan shall include provisions for: (a) The acquisition by such") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 1046?
A common citation format is "Public Contract Code - PCC § 1046" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 1046 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.