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CALIFORNIA STATUTES AND CODES
SECTIONS 1450-1453
INSURANCE CODE
SECTION 1450-1453
1450. The exchange may sue or be sued in its own name as in the case of an individual. Any judgment rendered against the exchange shall be binding upon each subscriber only in such proportion as his interests may appear. 1451. No action shall lie against any subscriber, upon any obligation made or incurred in the name of the exchange, until a final judgment has been obtained against the exchange and remains unsatisfied for thirty days. 1452. Process may be served upon the commissioner as provided in Article 1 (commencing with Section 12919) of Chapter 2 of Division 3. 1453. A judgment rendered in any case where service of process has been made on the commissioner shall be binding against the subscribers as their interests appear.
SECTION 1450-1453
1450. The exchange may sue or be sued in its own name as in the case of an individual. Any judgment rendered against the exchange shall be binding upon each subscriber only in such proportion as his interests may appear. 1451. No action shall lie against any subscriber, upon any obligation made or incurred in the name of the exchange, until a final judgment has been obtained against the exchange and remains unsatisfied for thirty days. 1452. Process may be served upon the commissioner as provided in Article 1 (commencing with Section 12919) of Chapter 2 of Division 3. 1453. A judgment rendered in any case where service of process has been made on the commissioner shall be binding against the subscribers as their interests appear.
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