âAdmitted,â in relation to a person, means entitled to transact insurance business in this state, having complied with the laws imposing conditions precedent to transaction of such business. The State Compensation Insurance Fund shall be deemed to be admitted pursuant to authority to transact workersâ compensation insurance granted by the Legislature. The commissioner shall not revoke or suspend the State Compensation Insurance Fundâs authority to transact workersâ compensation insurance.
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