California AB 1680: Dissenting shareholders' rights.

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 Bill Text - AB-1680 California FAIR Plan Association. 

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 |Add To My Favorites |Track Bill | Version: 06/22/26 - Amended Senate
 06/15/26 - Amended Senate
 06/04/26 - Amended Senate
 04/13/26 - Amended Assembly
 03/25/26 - Amended Assembly
 02/02/26 - Introduced

 AB-1680 California FAIR Plan Association. (2025-2026)

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 Date Published: 06/22/2026 02:00 PM

AB1680:v94#DOCUMENTBill Start

 Amended
 IN 
 Senate
 June 22, 2026

 Amended
 IN 
 Senate
 June 15, 2026

 Amended
 IN 
 Senate
 June 04, 2026

 Amended
 IN 
 Assembly
 April 13, 2026

 Amended
 IN 
 Assembly
 March 25, 2026

 CALIFORNIA LEGISLATURE—
 2025–2026 REGULAR SESSION

 Assembly Bill

No. 1680

Introduced by Assembly Member Calderon
(Coauthors: Assembly Members Addis, Alvarez, Bauer-Kahan, Berman, Gipson, Harabedian, Ortega, Petrie-Norris, Michelle Rodriguez, and Zbur)

February 02, 2026

 An act to amend Section 10095 of, and to add Sections 10100.4 and 10100.5 to, the Insurance Code, relating to insurance. 

LEGISLATIVE COUNSEL'S DIGEST

AB 1680, as amended, Calderon.
 California FAIR Plan Association. 

The California FAIR Plan Association is a joint reinsurance association in which all insurers licensed to write basic property insurance participate to administer a program for the equitable apportionment of basic property insurance for persons who are unable to obtain that coverage through normal channels. Existing law requires the Insurance Commissioner to approve the association’s plan of operation and authorizes the commissioner to examine the association’s books, records, files, papers, and documents that relate to its operation. Existing law authorizes the commissioner to impose civil penalties for various violations of the Insurance Code.

This bill would require the association to take corrective actions, as specified by the commissioner or their designee, to rectify violations of applicable statutes, regulations, accounting principles,
 the plan of operation,
 or other legally binding applicable rules and guidelines prescribed by the commissioner or their designee and identified in a report of examination or other operational report. The bill would subject the association to a penalty of not more than $20,000 for failing to take the specified corrective action within a timeframe agreed upon by the commissioner or their designee. The bill would set other civil penalty amounts for violations of provisions relative to the association as not to exceed $10,000 for each act in violation or not to exceed $20,000 if the act was willful, and would require the commissioner to impose those penalties, as specified.

The bill would also authorize the commissioner to require the association to both adjust the policy limits available under
 programs underwritten by the association and make additional coverage offerings available for fair rental value coverage under the association’s renters’ property insurance program.

Digest Key

 Vote:
 MAJORITY 
 Appropriation:
 NO 
 Fiscal Committee:
 YES 
 Local Program:
 NO 

Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 10095 of the Insurance Code is amended to read:

10095.

 (a) Within 30 days following the effective date of this chapter, the association shall submit to the commissioner, for the commissioner’s review, a proposed plan of operation, consistent with this chapter, creating an association consisting of all insurers licensed to write and engaged in writing in this state, on a direct basis, basic property insurance or any component of basic property insurance in homeowners’ or other dwelling multiperil policies. An insurer described in this subdivision shall be a member of the association and shall remain a member as a condition of its authority to transact those kinds of insurance in this state.

(b) The proposed plan shall authorize the association to
 assume and cede reinsurance on risks written by insurers in conformity with the program.

(c) Under the plan, an insurer shall participate in the writings, expenses, profits, and losses of the association in the proportion that its premiums written during the second preceding calendar year bear to the aggregate premiums written by all insurers in the program, excluding that portion of the premiums written attributable to the operation of the association. Premiums written on a policy of basic residential earthquake insurance issued