Insurance Code section 1870

The Legislature finds and declares that for the purpose of creating a risk retention group, directors and officers of corporations, whether for profit or nonprofit, are engaged in the same line of business with respect to the liability risks faced by those officers and directors within the meaning of the federal Liability Risk Retention Act of 1986.

Source: Section 1870, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=INS§ionNum=1870.­ (updated Jan. 1, 1988; accessed Jun. 9, 2025).

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Verified:
Jun. 9, 2025

§ 1870’s source at ca​.gov