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§ 600a. Restoration of authority after revocation. [Repealed.]

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What constitutes insolvency.

§ 602a. Estimate of indebtedness of liability insurance companies.

§ 602b. Classification of risks and premium rates to be filed. Powers of insurance commissioner. Insurance at less than state rate.

§ 603. Insolvent companies, notice of revocation of certificate.

§ 603a. Restoration of authority after revocation.

§ 604. Insolvent companies must be reported to attorney-general. Power of receiver.

§ 604a. Insolvency proceedings.

Insurance department fees.

Assessments.

Actions not to be transferred to United States court.
Approval of name of company.

§ 605.

$606.

§ 607.

Papers to be filed with commissioner.

§ 608.

§ 609.

§ 610.

§ 611.

§ 612a.

Statements to be verified.

Publication of statements of insurance companies.

§ 612. What statements must show.

Liability. Insurance companies. Liabilities,
charged as. Reserve fund, how computed.
insurance commissioner. [Repealed.]

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§ 613. Statements of life, health and accident companies.

§ 615. Forms of statements to be furnished.

Foreign companies must designate name of agent. Stipulation.
Service of process.

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When laws of other states require trust deposits. Duty of com

missioner.

Certificate of deposit.

§ 620. Withdrawal of deposit.

§ 620a. No section of this number.

§ 620b. Withdrawal of securities by insurance companies.

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§ 622a. Tax on gross premiums, other than California companies. Insurance companies must file bond.

§ 623.

Conditions. Subject to same

rules as official bonds. Securities in lieu of bonds.

§ 624. Same.

§ 625. Commissioner to furnish data to county assessors.

§ 625a. List of surety companies to be furnished county clerks. What

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Life companies must furnish data for valuation of policies. Basis of valuation.

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§ 634. Registration of policies of life insurance companies.

§ 634a. Definition of certain words.

§ 634b. Penalties payable on demand

§ 635. [No section of this number.]

§635a. Investment company defined.

§ 635b. Investment companies not licensed by bank or other commissioners. Deposit with state treasurer cash or securities. §635e. Articles of incorporation to be filed with secretary of state. What to contain.

§ 635d. Duty of state treasurer. Duty of attorney-general.

$635e. Withdrawal of deposit upon ceasing to do business.

635f. Right to substitute securities for cash deposit.

$635g. Amount of money to be loaned out of reserve fund. Collateral may be deposited with treasurer.

$635h. Reserve fund.

$6351. Duty of attorney-general.

Penalty.

$635j. Violation of the provisions of this act. §635k. Not to do business until deposit is made. 6351. Application.

Legislation Article XVI.

1. Enacted March 12, 1872, and then was composed of §§ 594-632. 2. Repealed by Stats. 1907, p. 141, and a new Article XVI substituted, the title of the act reading, "An Act to repeal Article XVI, of Chapter III, Part III, Title I, of the Political Code, and each and every section of said title, and sections 419, 420, 447, 448, 449, and 451 of the Civil Code, and to substitute a new Article XVI to take the place thereof in said Political Code, relating to insurance." Section 2 of this act read: "Sec. 2. All of the provisions of this act shall be so construed as to preserve and keep in full force and effect all causes of action and actions for penalties, assessments and fines which have already accrued against any insurance company under and by virtue of any of the provisions of Article XVI, Chapter III, Part III, Title I, of the Political Code, which is repealed by virtue of the provisions of this act, and all of such actions and causes of action may be prosecuted to final judgment, and all such penalties, assessments and fines may be enforced and collected under the provisions of said article to the same extent and in the same manner as though said Article XVI had not been repealed." See infra, tits. "Legislation," under the sections constituting the article.

§ 588. Eligibility. No person is eligible to the office of insurance commissioner or deputy who is an officer, agent, or employee of an insurance company.

Legislation § 588. 1. Enacted as § 594, March 12, 1872; based on Stats. 1867-68, p. 336, § 2, final sentence. 2. Repealed by Stats. 1907, p. 141, in repealing Article XVI. 3. Present section enacted by Stats. 1907, p. 141. See ante, tit. "Legislation Article XVI."

§ 589. Salary. The annual salary of the insurance commissioner is four thousand dollars and the annual salary of the deputy of the insurance commissioner is two thousand seven hundred dollars.

Legislation § 589. 1. Enacted as §§ 628, 629, March 12, 1872. 2. §§ 628, 629, amended by Code Amdts. 1880, p. 88 (§ 628 being simply a re-enactment). 3. § 629 amended by Stats. 1887, p. 12. 4. §§ 628, 629, repealed by Stats. 1907, p. 141, in repealing Article XVI. 5. Present section enacted by Stats. 1907, p. 141. See ante, tit. "Legislation Ar

tiele XVI."

§ 590. [No section of this number.]

§ 591. Office, etc.. for insurance commissioner. Special fund. Expenditures audited. The commissioner may procure suitable rooms for

his offices and may provide a suitable safe and furniture therefor. He may also provide stationery, fuel, printing and other conveniences and assistance and incur traveling and such other expenses as are necessary for the transactions of the business of his office. Out of the funds paid into the state treasury by the insurance commissioner, there shall be set aside and reserved each and every year the sum of thirty thousand dollars as a special fund to be called the insurance commissioner's special fund. All expenditures authorized in this section must be audited by the board of examiners, who must allow the same and direct payment thereof to be made, and the controller shall draw warrants therefor on the state treasury for the payment of the same to the insurance commissioner out of the said insurance commissioner's special fund. [Amendment approved 1911; Stats. 1911, p. 1247.]

Legislation § 591. 1. Enacted as § 630, March 12, 1872; based on Stats. 1867-68, p. 339, § 12. 2. § 630 amended by Stats. 1887, p. 12. 3. § 630 amended by Stats. Extra Sess. 1906, p. 31. 4. § 630 repealed by Stats. 1907, p. 141, in repealing Article XVI. 5. Present section enacted by Stats. 1907, p. 141. See ante, tit. "Legislation Article XVI." 6. Amended by Stats. 1911, p. 1247.

§ 592. Office. The comissioner must keep his office in the city of San Francisco.

Legislation § 592. 1. Enacted as § 631, March 12, 1872; based on Stats. 1867-68, p. 339, § 12. 2. § 631 repealed by Stats. 1907, p. 141, in repealing Article XVI. 3. Present section enacted by Stats. 1907, P. 141. See ante, tit. "Legislation Article XVI."

§ 593. Bond. The commissioner must execute an official bond in the sum of twenty thousand dollars.

Legislation § 593. 1. Enacted as § 632, March 12, 1872; based on Stats. 1867-68, p. 336, § 3. 2. § 632 repealed by Stats. 1907, p. 141, in repealing Article XVI. 3. Present section enacted by Stats. 1907, P. 141. See ante, tit. "Legislation Article XVI."

§ 594. Classification of insurance business. Requirements to do business. Capital stock must be paid up. All insurance business in the state of California is hereby classified in the following sixteen kinds, namely:

1. Life insurance. Life insurance, including within its meaning insurance upon the lives of persons and every insurance appertaining thereto, and the granting, purchasing and disposing of annuities.

2. Fire insurance. Fire insurance, including within its meaning insurance against loss or damage by fire, lightning, windstorm, tornadoes or earthquakes.

3. Marine insurance. Marine insurance, including within its meaning insurance upon vessels, freights, goods, wares, merchandise, specie, bullion, jewels, profits, commissions, bank notes, bills of exchange, and other evidences of debt, bottomry and respondentia interests, and every insurance connected with marine risks and risks of transportation and navigation, including the risks of lake, river and inland transportation and navigation.

4. Title insurance. Title insurance, including within its meaning the issuance of guaranties and policies of insurance affecting titles to real

estate and guaranteeing or insuring owners of real or personal property, or others interested therein, or having liens or encumbrances thereon, against loss by reason of defective titles, encumbrances, or adverse elaims of title, or otherwise.

5. Fidelity and surety insurance. Fidelity and surety insurance, including within its meaning the guaranteeing of persons holding places of public or private trust, and guaranteeing and executing all bonds, undertakings, and contracts of suretyship, and guaranteeing the performance of contracts other than insurance policies, and not including guaranteeing the payment of mortgages or trust deeds.

6. Accident, sickness or health insurance. Accident insurance, and either sickness or health insurance, including within its meaning insurance against injury, disablement or death resulting from traveling or general accidents, and against disablements resulting from sickness and every insurance appertaining thereto.

7. Plate glass insurance. Plate glass insurance, including within its meaning all insurance against breakage of glass, whether local or in transit.

8. Liability insurance. Liability insurance, including within its meaning workmen's compensation insurance and all other insurance against loss or damage resulting from accident to or injury, fatal or non-fatal, suffered by an employee or other person, and for which the insured is liable.

9. Boiler and machinery insurance. Boiler and machinery insurance, including within its meaning insurance upon steam boilers and pipes, fly wheels, engines and machinery connected therewith or operated thereby, against explosion and accident, and against loss and damage to life or property resulting therefrom, and against loss of use and occupancy caused thereby.

10. Burglary insurance. Burglary insurance, including within its meaning insurance against loss by burglary or theft or both.

11. Credit insurance. Credit insurance, including within its meaning insurance of merchants, traders, and those engaged in business and giving credit for loss and damage by reason of giving and extending credit to their customers and those dealing with them, and insurance or guaranty either by agreement to purchase uncollectible debts or otherwise, against loss or damage from the failure of persons indebted or to become indebted to the insured, or to meet existing or contemplated liabilities.

12. Sprinkler insurance. Sprinkler insurance, including within its meaning insurance against loss or damage by water to any goods or premises arising from the breakage or leakage of sprinklers, pumps or other apparatus placed for extinguishing fires, and of water pipes, against accidental injury to such sprinklers, pumps, or other apparatus.

13. Team and vehicle insurance. Team and vehicle insurance, including within its meaning insurance against loss or legal liability for loss beranse of damage to property caused by the use of teams or vehicles whether by accident or collision or by explosion of any engine or tank or boiler or pipe or tire of any vehicle, and also including insurance against theft of the whole or any part of any vehicle; the term vehicle as here used does not inelude ships or vessels nor boats nor any railroad rolling stock.

14. Automobile insurance. Automobile insurance, including within its meaning the insurance of the owners of or dealers in automobiles against any and all hazards incident to ownership, maintenance, operation and use of such automobiles. No company shall assume any hazard or risk upon an automobile unless authorized to assume hazards or risks of that character by its charter or articles of incorporation. Nothing herein contained shall be construed to prevent a fire insurance company from issuing a policy of insurance upon an automobile covering the fire hazard only, nor be construed to prevent a marine insurance company from issuing a policy of insurance upon an automobile covering the marine hazard of transportation only, nor be construed to prevent a life insurance company which also transacts liability insurance from issuing a policy of insurance upon an automobile, covering the liability hazard only.

15. Mortgage insurance. Mortgage insurance, including within its meaning the guaranteeing of the payment of the principal, interest and other sums agreed to be paid under the terms of any note or bond secured by mortgage or trust deed, or other sums secured under the terms of any such mortgage or trust deed, in its entirety, or of an undivided or other partial interest in any such mortgage or trust deed, or in a group of such mortgages or trust deeds, and the guaranteeing or insuring, directly or indirectly, against loss thereon.

16. Miscellaneous insurance. Miscellaneous insurance, including within its meaning lightning, windstorm, tornado and earthquake insurance; and any and all casualty insurance not included in any of the foregoing kinds, and which is a proper subject of insurance.

Requirements to do business. No company shall do any of the foregoing sixteen kinds of insurance unless authorized to do so by its charter. No company having a capital stock shall do life insurance in California without having a capital stock of at least two hundred thousand dollars, nor shall any such company do in California any other of said kinds of insurance, except the sixth and eighth classes; provided, that any such insurance company desiring to do either the sixth or eighth class, must have in addition to such two hundred thousand dollars of capital stock, at least fifty thousand dollars of capital stock for each class it desires to do, and one hundred thousand dollars additional capital stock to do both such additional classes. No company having a capital stock shall do in California any fire insurance without having a capital stock of at least two hundred thousand dollars nor shall any such company do in California, any other of said kinds of insurance, except the third, ninth, twelfth, fourteenth and sixteenth classes. To do both fire and marine insurance such company must have a capital stock of at least four hundred thousand dol lars, and to do any other class of insurance, such company must have an additional capital stock of at least fifty thousand dollars for each such additional class that it desires to do, in addition to the two hundred thousand dollars required if it does fire insurance or the four hundred thousand dollars required if it does both fire and marine insurance. No company having a capital stock shall do in California any of said third kind of insurance without having a capital stock of at least two hundred thousand dollars, nor shall any such company do in California any other of said kinds of insurance except the second, thirteenth, four

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