§ 2697.2. Definitions.

(a) “Authority” means the California Earthquake Authority as created in and authorized by Insurance Code Section 10089.6, subdivision (a).

(b) “Basic residential earthquake insurance policy” means the policy of residential earthquake insurance described in Insurance Code Section 10089, as augmented by the provisions of Insurance Code Section 10089.5, subdivision (c).

(c) “Commissioner” means the Insurance Commissioner of the State of California.

(d) “Board” or “Governing Board” means the Governing Board of the Authority as authorized and required by Insurance Code Section 10089.7, subdivision (a).

(e) “Participating insurer” means an insurer that has elected to join the Authority and, in accordance with all applicable statutory, regulatory, and contractual requirements, has agreed to contribute start-up and contingent capital to the Authority and place all its basic residential earthquake insurance business with the Authority.

(f) “Residential property insurance policy” means those policies described in Insurance Code Section 10087.

(g) A “qualifying residential property” is any residential dwelling described in Insurance Code Section 10087.

HISTORY

1. New section filed 11-18-96 as an emergency; operative 11-18-96 (Register 96, No. 47). A Certificate of Compliance must be transmitted to OAL by 3-18-97 or emergency language will be repealed by operation of law on the following day.

2. Repealed by operation of Government Code section 11346.1(g) (Register 97, No. 14).

3. New section filed 4-1-97 as an emergency; operative 4-1-97 (Register 97, No. 14). A Certificate of Compliance must be transmitted to OAL by 7-30-97 or emergency language will be repealed by operation of law on the following day.

4. Repealed by operation of Government Code section 11346.1(g) (Register 97, No. 32).

5. New section filed 8-4-97 as an emergency; operative 8-4-97 (Register 97, No. 32). A Certificate of Compliance must be transmitted to OAL by 12-2-97 or emergency language will be repealed by operation of law on the following day.

6. Certificate of Compliance as to 8-4-97 order transmitted to OAL 11-26-97 and filed 1-13-98 (Register 98, No. 3).

7. Amendment of section and Note filed 5-11-99; operative 6-10-99 (Register 99, No. 20).

Note

Note: Authority cited: Sections 10087, 10089, 10089.5(a) and (c), 10089.6(a) and 10089.7(a), Insurance Code. Reference: Sections 10089.11(a) and 12921, Insurance Code.