California § 4060 - A domestic mutual insurer while maintaining unimpaired surplus funds not less in
Full text of California Public Contract Code - PCC § 4060 — A domestic mutual insurer while maintaining unimpaired surplus funds not less in, with citation guidance and answers to common questions.
§ 4060. A domestic mutual insurer while maintaining unimpaired surplus funds not less in
A domestic mutual insurer while maintaining unimpaired surplus funds not less in amount than one and one-half times the minimum paid-in capital stock required of a domestic stock insurer formed under this code for authority to transact the same class or classes of insurance, may, upon receipt of the commissionerâs certificate so authorizing, extinguish the contingent liability to assessment of its members as to all its policies in force and may omit provisions imposing contingent liability in all policies currently issued. A fee of two hundred eighty-three dollars ($283) shall accompany any application for that certificate.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 4060
What does Public Contract Code - PCC § 4060 cover?
Section 4060 ("A domestic mutual insurer while maintaining unimpaired surplus funds not less in") 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 § 4060?
A common citation format is "Public Contract Code - PCC § 4060" (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 § 4060 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.