Section 12373 - DividendsA title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:
(a) The aggregate par value of the shares of its capital stock issued and outstanding, including treasury shares;(b) The amount required to be set apart as the title insurance surplus fund;(c) The amount required to be maintained in the unearned premium reserve;(d) The amount required to be maintained in the reserve for unpaid losses and loss adjustment expense;(e) A sum sufficient to pay all liabilities for expenses and taxes and all other indebtedness.Amended by Stats. 1965, Ch. 272.