Statute · California Insurance Code
Cal. Ins. Code § 839 — Issue of Securities
Cal. Ins. Code § 839
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The commissioner shall issue a permit if he finds that:
Citator
Cal. Ins. Code § 839 — Issue of Securities is in force in the current edition of the Code, and nothing recorded condemns it.
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.