(a) “Admitted surety insurer” means a corporate insurer or a reciprocal or interinsurance exchange to which the Insurance Commissioner has issued a certificate of authority to transact surety insurance in this state, as defined in Section 105 of the Insurance Code.
(b) For the purpose of application of this chapter to a bond given pursuant to any statute of this state, the phrases “admitted surety insurer,” “authorized surety company,” “bonding company,” “corporate surety,” and comparable phrases used in the statute mean “admitted surety insurer” as defined in this section.
(Added by Stats. 1982, Ch. 998, Sec. 1.)