SECTIONS 12500-12502 - California Statutes

INSURANCE CODE

SECTION 12500-12502

12500. An admitted mortgage insurer may insure the payment of
authorized real estate securities subject to the restrictions in this
article. A mortgage insurer shall not insure the payment of any form
of security other than an authorized real estate security.

12501. A mortgage insurer shall not insure the payment of any
security secured by a single mortgage in any case where the aggregate
principal of the security is in excess of fifteen per cent of the
insurer's then paid-in capital.

12502. An insurer shall not at any time have outstanding mortgage
policies insuring the payment of securities having an aggregate
unpaid principal exceeding twenty times the amount of the insurer's
paid in capital.