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California Code, Insurance Code - INS § 9084

Current as of January 01, 2025 | Updated by Findlaw Staff

Such an association may insure the property of its members against loss or damage by fire for an amount not exceeding ten thousand dollars ($10,000) on any one risk, subject to the following conditions as to amount:

(a) A risk in excess of three thousand five hundred dollars ($3,500) shall not be binding as to such excess until risks to the amount of two hundred thousand dollars ($200,000) have been written and all premiums paid thereon.

(b) A risk of more than one thousand five hundred dollars ($1,500) shall not be binding as to such excess until risks to the amount of one hundred thousand dollars ($100,000) have been written and all premiums paid thereon.

(c) A risk regardless of amount, shall not be binding until risks to the amount of seventy-five thousand dollars ($75,000) have been written and all premiums paid thereon.

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Cite this article: FindLaw.com - California Code, Insurance Code - INS § 9084 - last updated January 01, 2025 | https://codes.findlaw.com/ca/insurance-code/ins-sect-9084/

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