California Insurance Code

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Insurance Code - INS

DIVISION 2. CLASSES OF INSURANCE [1880 - 12880.8]

  ( Division 2 enacted by Stats. 1935, Ch. 145. )

PART 1. FIRE AND MARINE INSURANCE [1880 - 10108.1]

  ( Part 1 enacted by Stats. 1935, Ch. 145. )

CHAPTER 5. County Mutual Fire Insurers [5050 - 7060]

  ( Chapter 5 enacted by Stats. 1935, Ch. 145. )

ARTICLE 2. Powers [5080 - 5081]
  ( Article 2 enacted by Stats. 1935, Ch. 145. )

5080.
  

Such insurer and its directors possess the usual powers, and are subject to the usual duties of corporations and directors.

(Enacted by Stats. 1935, Ch. 145.)

5081.
  

Such insurer may accumulate such surplus as its directors deem desirable for meeting contingencies, to cover the catastrophe hazard, and for general corporate purposes.

(Added by Stats. 1945, Ch. 96.)

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