Insurance Code section 11777

Such cash dividend or credit is to be in an amount which the board of directors in its discretion considers to be the employer’s proportion of divisible surplus.

Source: Section 11777, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=11777. (updated Jan. 1, 1947; accessed Jun. 9, 2025).

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Verified:
Jun. 9, 2025

§ 11777’s source at ca.gov

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Location: https://california.public.law/codes/insurance_code_section_11777

Original Source: Section 11777, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=11777. (last accessed May 12, 2025).