California Insurance Code 1215.3 – The following shall be violations of this article:(a) The …
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The following shall be violations of this article:
(a) The failure to file the statement required under subdivision (a) of Section 1215.2.
Terms Used In California Insurance Code 1215.3
- Commissioner: means the Insurance Commissioner of the state and any assistant to the Insurance Commissioner designated and authorized by the commissioner while acting under their designation as the Insurance Commissioner. See California Insurance Code 1215
- control: includes the terms "controlling" "controlled by" and "under common control with" and means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See California Insurance Code 1215
- Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
(b) Effectuation or any attempt to effectuate an acquisition or control of, or merger with, a domestic insurer either within the 60-day period referred to in subdivision (d) of Section 1215.2, unless the commissioner has given his approval thereto, or after disapproval of such acquisition of control or merger.
(Added by Stats. 1969, Ch. 1275.)