Article 3. Capital Requirements Of Reserve Basis Insurers of California Insurance Code >> Division 2. >> Part 3. >> Chapter 1. >> Article 3.

An incorporated insurer issuing policies of liability, workers' compensation, or common carrier liability insurance, shall be governed by the paid-in capital and surplus requirements of Sections 700.01 to 700.05, inclusive.

Except as restricted by its charter, such an incorporated insurer, having such a paid-in capital, may transact all three of such insurances.

Any such insurer which on July 26, 1919, was authorized by its charter to transact liability insurance may transact workers' compensation and common carrier liability insurance as though expressly permitted by its charter to do so.