Cal. INS § 11787
This is the official text of Cal. INS § 11787, part of California’s Insurance Code — regulates insurance companies and the insurance policies sold in California.
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Official statutory text
The board of directors may delegate to the president of the fund, under those rules and regulations and subject to those conditions as it from time to time prescribes, any power, function, or duty conferred by law on the board of directors in connection with the fund or in connection with the administration, management, and conduct of the business and affairs of the fund. The president may exercise those powers and functions and perform those duties with the same force and effect as the board of directors, but subject to its approval.
Status: in_force · Read it on the official government site
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