CA Ins Code Section 12373


A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:

(a)

The aggregate par value of the shares of its capital stock issued and outstanding, including treasury shares;

(b)

The amount required to be set apart as the title insurance surplus fund;

(c)

The amount required to be maintained in the unearned premium reserve;

(d)

The amount required to be maintained in the reserve for unpaid losses and loss adjustment expense;

(e)

A sum sufficient to pay all liabilities for expenses and taxes and all other indebtedness.
Last Updated

Aug. 19, 2023

§ 12373’s source at ca​.gov