California § 12122 - No insurer authorized to transact financial guaranty insurance shall pay any comm
Full text of California Public Contract Code - PCC § 12122 — No insurer authorized to transact financial guaranty insurance shall pay any comm, with citation guidance and answers to common questions.
§ 12122. No insurer authorized to transact financial guaranty insurance shall pay any comm
No insurer authorized to transact financial guaranty insurance shall pay any commission to or make any gift of money, property, or other valuable thing to any employee, agent, or representative of any issuer of any debt instrument or other monetary obligation of any kind which may be insured pursuant to this article or to any trustee or agent of any such issuer, or to any employee, agent, or representative of any underwriter of any issuer of those debt instruments or monetary obligations as an inducement to the purchase of that insurance, nor may, at any time there is in force a policy issued by that insurer insuring those debt instruments or monetary obligations, any employee, agent, or representative of the issuer or underwriter receive from or on behalf of that insurer any such payment or gift.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 12122
What does Public Contract Code - PCC § 12122 cover?
Section 12122 ("No insurer authorized to transact financial guaranty insurance shall pay any comm") 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 § 12122?
A common citation format is "Public Contract Code - PCC § 12122" (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 § 12122 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.