California § 12090 - An admitted surety insurer shall not become surety on any one undertaking, or acc
Full text of California Public Contract Code - PCC § 12090 — An admitted surety insurer shall not become surety on any one undertaking, or acc, with citation guidance and answers to common questions.
§ 12090. An admitted surety insurer shall not become surety on any one undertaking, or acc
(a) An admitted surety insurer shall not become surety on any one undertaking, or accept reinsurance on such undertaking, when its liability thereon, in excess of the amount reinsured by it in an admitted insurer, amounts to more than ten percent of its capital and surplus as shown by its last statement on file in the office of the commissioner. (b) In determining its liability on an undertaking for purposes of subdivision (a), an admitted insurer may reduce its liability by either or both of the following: (1) Deposits with the surety insurer, in a manner acceptable to the commissioner, or by conveyance to it in trust for its protection, of assets that would qualify as admitted assets. (2) A clean and irrevocable letter of credit acceptable to the commissioner.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 12090
What does Public Contract Code - PCC § 12090 cover?
Section 12090 ("An admitted surety insurer shall not become surety on any one undertaking, or acc") 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 § 12090?
A common citation format is "Public Contract Code - PCC § 12090" (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 § 12090 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.