California § 51639 - The agency shall establish reserve accounts for unearned premiums, losses, and po
Full text of California Public Contract Code - PCC § 51639 — The agency shall establish reserve accounts for unearned premiums, losses, and po, with citation guidance and answers to common questions.
§ 51639. The agency shall establish reserve accounts for unearned premiums, losses, and po
The agency shall establish reserve accounts for unearned premiums, losses, and potential catastrophic losses caused by economic cycles. The agency shall not cause sums to be withdrawn from the loan insurance reserve account in amounts which would reduce the moneys therein to less than the insurance reserve requirement, except as necessary to satisfy liabilities arising under contracts of loan insurance. In the event that the loan insurance reserve account is reduced to less than the insurance reserve requirement, the agency shall cease making commitments for, and contracts of, insurance until the loan insurance reserve account has been restored to satisfy that requirement.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 51639
What does Public Contract Code - PCC § 51639 cover?
Section 51639 ("The agency shall establish reserve accounts for unearned premiums, losses, and po") 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 § 51639?
A common citation format is "Public Contract Code - PCC § 51639" (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 § 51639 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.