California § 928 - An admitted insurer shall not undertake any single risk or accept reinsurance on
Full text of California Public Contract Code - PCC § 928 — An admitted insurer shall not undertake any single risk or accept reinsurance on, with citation guidance and answers to common questions.
§ 928. An admitted insurer shall not undertake any single risk or accept reinsurance on
(a) An admitted insurer shall not undertake any single risk or accept reinsurance on any single risk when its liability thereon in excess of the amount reinsured by reinsurance authorized for annual statement credit under this code exceeds 10 percent of its capital and surplus as shown by its last statement on file in the office of the commissioner. (b) This section shall apply to any class or classes of insurance specified in Chapter 1 (commencing with Section 100) of Part 1 of Division 1, except: (1) Life, as defined in Section 101. (2) Title, as defined in Section 104. (3) Surety, as defined in Section 105. (4) Mortgage Guaranty, as defined in Section 119. (5) Financial Guaranty, as defined in Section 124.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 928
What does Public Contract Code - PCC § 928 cover?
Section 928 ("An admitted insurer shall not undertake any single risk or accept reinsurance on") 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 § 928?
A common citation format is "Public Contract Code - PCC § 928" (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 § 928 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.