Section 6622. Refunds from surplus; assessment corporations

Latest version.

(a) Subject to
  the requirements of this article for the accumulation and maintenance of
  minimum surplus, the surplus of  any  assessment  corporation  shall  be
  eligible  for equitable distribution to its members, but no distribution
  shall be made until authorized by the corporation's board  of  directors
  nor until approved by the superintendent.
    (b)  In authorizing any such distribution the board of directors of an
  assessment corporation  may  provide  for  apportionment  thereof  among
  separate  groups  of  members  on  the  basis of underwriting experience
  equitably classified according to major kinds of insurance.

                    
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