Statute · California Insurance Code
Cal. Ins. Code § 832 — Issue of Securities
Cal. Ins. Code § 832
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Every insurer that commits any of the following acts is guilty of a public offense and punishable by fine not exceeding ten thousand dollars:
Citator
Cal. Ins. Code § 832 — Issue of Securities is in force in the current edition of the Code, and nothing recorded condemns it.
Every insurer that commits any of the following acts is guilty of a public offense and punishable by fine not exceeding ten thousand dollars:
(a) Selling or causing to be issued a security contrary to the provisions of this article or not in conformity with the permit of the commissioner.
(b) Applying any of the proceeds of sale of a security to any purpose other than as specified in the permit, or to a purpose specified in the permit, but in excess of the amount limited for that purpose.