Statute · California Insurance Code
Cal. Ins. Code § 11521.3 — Grants and Annuities Societies
Cal. Ins. Code § 11521.3
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 2006-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Prior to admission each applicant shall file with the commissioner an accurate and complete financial statement consisting of a balance sheet and income and expense statement, showing the current condition of the applicant and sworn to by the officer of the applicant having the…
Citator
Cal. Ins. Code § 11521.3 — Grants and Annuities Societies is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Prior to admission each applicant shall file with the commissioner an accurate and complete financial statement consisting of a balance sheet and income and expense statement, showing the current condition of the applicant and sworn to by the officer of the applicant having the responsibility for preparing the statement.
(b) If the applicant is already transacting a grants and annuities business in another state, an accurate and complete financial statement showing the condition of the present grants and annuities business, sworn to by the officer having the responsibility for preparing the statement, shall be submitted.
(c) One hundred and twenty days after the end of their fiscal year, every certificate holder, except a certificate holder that also holds a certificate of authority pursuant to Article 3 (commencing with Section 699) of Chapter 1 of Part 2 of Division 1, shall make and file with the commissioner an accurate and complete financial statement, consisting of a balance sheet and income and expense statement, showing the current condition of the certificate holder’s grants and annuities operation on a form prescribed by the commissioner.