California § 1374 - In estimating the financial condition of any exchange the commissioner shall obse
Full text of California Public Contract Code - PCC § 1374 — In estimating the financial condition of any exchange the commissioner shall obse, with citation guidance and answers to common questions.
§ 1374. In estimating the financial condition of any exchange the commissioner shall obse
In estimating the financial condition of any exchange the commissioner shall observe the following rules: (a) He or she shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis. (b) Surplus deposits of subscribers shall not be charged as a liability. (c) All premium deposits and surplus deposits of subscribers due and unpaid for a period not exceeding 90 days shall be allowed as admitted assets, as in the case of incorporated insurers issuing nonassessable policies on a reserve basis. (d) An assessment levied as provided in this chapter, and not collected shall in no event be allowed as an asset. (e) The computation of reserves shall be based upon premium deposits without any deduction for the compensation of the attorney.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 1374
What does Public Contract Code - PCC § 1374 cover?
Section 1374 ("In estimating the financial condition of any exchange the commissioner shall obse") 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 § 1374?
A common citation format is "Public Contract Code - PCC § 1374" (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 § 1374 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.