# Cal. INS § 12107: Section 12107

> California · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12107

## Section

- **Citation:** Cal. INS § 12107
- **Heading:** Section 12107
- **Jurisdiction:** California
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** California Code / Code ins / Division 2 / Part 4 / Chapter 1 / Article 5 / Section 12107

## Text

(a) No insurer shall be issued a license to transact financial guaranty insurance unless it has paid-in capital of at least fifteen million dollars ($15,000,000) and surplus of at least eighty-five million dollars ($85,000,000), and shall at all times thereafter maintain a minimum paid-in capital of fifteen million dollars ($15,000,000) and a minimum surplus of sixty million dollars ($60,000,000).

(b) An insurer licensed in this state and issuing or reinsuring financial guaranty insurance policies in this state prior to January 1, 1991, shall, notwithstanding the provisions of subdivision (a), be deemed to meet the combined paid-in capital and surplus requirements for transacting the financial guaranty insurance business during the period between January 1, 1991, and January 1, 1993, if it has combined capital and surplus of forty-five million dollars ($45,000,000), which includes paid-in capital of at least two million five hundred thousand dollars ($2,500,000).

(c) On and after January 1, 1993, every financial guaranty insurance corporation must fully comply with the condition in subdivision (a) that a minimum paid-in capital of fifteen million dollars ($15,000,000) be held and maintained.

## Nearby sections

- [Cal. INS § 12100 Section 12100](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12100.md)
- [Cal. INS § 12101 Section 12101](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12101.md)
- [Cal. INS § 12102 Section 12102](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12102.md)
- [Cal. INS § 12103 Section 12103](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12103.md)
- [Cal. INS § 12104 Section 12104](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12104.md)
- [Cal. INS § 12105 Section 12105](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12105.md)
- [Cal. INS § 12106 Section 12106](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12106.md)
- [Cal. INS § 12107 Section 12107](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12107.md)
- [Cal. INS § 12108 Section 12108](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12108.md)
- [Cal. INS § 12109 Section 12109](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12109.md)
- [Cal. INS § 12110 Section 12110](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12110.md)
- [Cal. INS § 12111 Section 12111](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12111.md)
- [Cal. INS § 12112 Section 12112](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12112.md)
- [Cal. INS § 12113 Section 12113](https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12113.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CA_Cins_D2_P4_C1_A5_S12107. Check the current official text before relying on it. Not legal advice.