{"code":"INS","codeName":"Insurance Code","section":"11420","citation":"Ins. Code, § 11420","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. CLASSES OF INSURANCE [1880. - 12880.8.]","url":"https://blackletter.si/insurance-code/division-2"},{"name":"PART 2. LIFE AND DISABILITY INSURANCE [10110. - 11549.]","url":"https://blackletter.si/insurance-code/division-2/part-2"},{"name":"CHAPTER 11. Change by Assessment Plan Insurer to Reserve Plan [11420. - 11490.]","url":"https://blackletter.si/insurance-code/division-2/part-2/chapter-11"},{"name":"ARTICLE 1. Authorization and Effect [11420. - 11422.]","url":"https://blackletter.si/insurance-code/division-2/part-2/chapter-11/article-1"}],"history":"Enacted by Stats. 1935, Ch. 145.","effective":null,"html":"<p>Any domestic insurer providing life insurance upon the assessment plan may transform itself into an incorporated life insurer issuing policies on a reserve basis with such name as its directors or trustees determine. If incorporated, such insurer may make the transformation by amendment of its articles and by-laws, either by a majority vote of its directors or trustees or in any other lawful manner. If unincorporated it may make the transformation by incorporating.</p>","text":"Any domestic insurer providing life insurance upon the assessment plan may transform itself into an incorporated life insurer issuing policies on a reserve basis with such name as its directors or trustees determine. If incorporated, such insurer may make the transformation by amendment of its articles and by-laws, either by a majority vote of its directors or trustees or in any other lawful manner. If unincorporated it may make the transformation by incorporating.","otherVersions":[],"url":"https://blackletter.si/insurance-code/authorization-and-effect-11420","source":"California Legislative Information bulk export (pubinfo)"}