Insurance Code section 8091

When the amount of such loss does not exceed one-eighth of one per cent of the total amount of insurance in force in the reinsurer, the directors may, by resolution in writing signed by two-thirds of all the directors while present at a meeting, borrow in the name of the reinsurer and give its evidence of indebtedness therefor, in an amount not exceeding one-eighth of one per cent of the total amount of such insurance in force.

Source: Section 8091, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=INS§ionNum=8091.­ (updated Jan. 1, 1935; accessed Jul. 28, 2025).

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Verified:
Jul. 28, 2025

§ 8091's source at ca​.gov