DIVISION 1. GENERAL RULES GOVERNING INSURANCE 100-1879.8›PART 2. THE BUSINESS OF INSURANCE 680-1879.8›CHAPTER 1. General Regulations 680-1113›ARTICLE 8. Issue of Securities 820-860
§ 839
California Insurance Code · 2018-11 edition · updated 2026-10-04 · California
The commissioner shall issue a permit if he finds that:
(a) The proposed plan of business of the applicant and the proposed issuance of securities are fair, just, and equitable.
(b) The applicant intends fairly and honestly to transact its business, and
(c) The securities the applicant proposes to issue and the methods to be used by it in issuing or disposing of them are such as, in his opinion, will not work a fraud upon the purchaser thereof, or upon policyholders or other security holders of applicant.
Otherwise, he shall deny the application and notify the applicant in writing of his decision.
(Amended by Stats. 1965, Ch. 1568.)
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