Cal. INS § 11520.6
This is the official text of Cal. INS § 11520.6, part of California’s Insurance Code — regulates insurance companies and the insurance policies sold in California.
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Official statutory text
(a) Before granting a certificate of authority or amended certificate of authority as a grants and annuities society to any applicant, the commissioner shall consider the qualifications of the applicant with respect to the following subjects:
(1) Minimum net worth and working capital.
(2) Lawfulness and quality of investments.
(3) Financial stability.
(4) Reinsurance agreements.
(5) Competency, character, and integrity of management.
(6) Ownership and control.
(7) Fairness and honesty of methods of doing business.
(8) Risk to the public.
(b) Upon consideration of all relevant qualifications, the commissioner shall issue a certificate of authority to an applicant, unless the commissioner finds that the applicant is materially deficient with respect to one or more of the subjects set forth in subdivision (a).
(1) Minimum net worth and working capital.
(2) Lawfulness and quality of investments.
(3) Financial stability.
(4) Reinsurance agreements.
(5) Competency, character, and integrity of management.
(6) Ownership and control.
(7) Fairness and honesty of methods of doing business.
(8) Risk to the public.
(b) Upon consideration of all relevant qualifications, the commissioner shall issue a certificate of authority to an applicant, unless the commissioner finds that the applicant is materially deficient with respect to one or more of the subjects set forth in subdivision (a).
Status: in_force · Read it on the official government site
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