This law allows affordable housing organizations to collaborate with other similar organizations to jointly manage their insurance claims or losses. They can do this for various types of coverage, including liability insurance for harm caused by their actions, insurance for employees and board members against work-related liabilities, and coverage for property damage.

This law states that a certain type of pooling arrangement set up under this division is not considered insurance and doesn't have to follow usual insurance regulations.

Any affordable housing groups involved in such a pooling must get a written notice in at least 10-point font, explaining that the pool is not regulated by the state Insurance Commissioner and will not be protected by state insurance insolvency guaranty funds if the pool faces financial issues.

This section outlines the requirements for insurance pools created in California or operating in the state. These pools can be formed as nonprofit corporations, LLCs, partnerships, or trusts. They need at least $2.5 million in cash or cash equivalents to start and must have reinsurance to mitigate their risks. Each year, these pools have to send their audited financial statement and actuarial review to various state committees and the Insurance Commissioner within 180 days after their fiscal year ends. If there are changes in their financing or management, filed claims audit reports, received examination reports, or regulation changes, they need to include this information as well.

This law requires all affordable housing entities that join an insurance pool to pay premiums or make financial contributions. These payments are necessary to keep the insurance pool financially stable, and how much each entity pays is decided by the pool's governing board.

This law states that any insurance pool created under this part of the law cannot cover liabilities that are already covered under the Labor Code, starting with Section 3200. Essentially, it avoids overlapping coverage for certain liabilities.

This law states that affordable housing entities in California cannot spend any money, purchase insurance, make contracts, or otherwise cover the costs for punitive or exemplary damages that an employee of theirs is responsible for paying, whether those costs come from a claim or a judgment against them.

This law defines 'affordable housing' as housing projects where some units can be bought or rented affordably by low or moderate-income individuals or families. Government assistance may or may not be involved in making it affordable.

This law defines what counts as an 'affordable housing entity' in California. It includes three types of organizations: Housing authorities created by state laws and their related agencies, nonprofit corporations that offer affordable housing, and certain types of business partnerships or companies involved in affordable housing associated with these authorities or nonprofits. For these business forms to qualify, the authority or nonprofit must have a stake, control, or operational role in the affordable housing undertaking.