Cal. Ins. Code § 12111

Current through the 2024 Legislative Session.
Section 12111 - Disclosure that upon insolvency claims excluded from coverage of California Insurance Guaranty Association

An admitted financial guaranty insurance corporation shall adopt procedures reasonably calculated to ensure, to the extent it is commercially feasible for the financial guaranty insurance corporation, that any prospectus which discloses that a policy of financial guaranty insurance has been issued also discloses that in the event the financial guaranty insurance corporation were to become insolvent, any claims arising under the policies of financial guarantee insurance are excluded from coverage by the California Insurance Guaranty Association, established pursuant to Article 15.2 (commencing with Section 1063) of Chapter 1 of Part 2 of Division 1.

Ca. Ins. Code § 12111

Amended by Stats 2005 ch 412 (AB 1661),s 5, eff. 1/1/2006