{"code":"INS","codeName":"Insurance Code","section":"12389.1","citation":"Ins. Code, § 12389.1","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 6. INSURANCE COVERING LAND [12340. - 12661.]","url":"https://blackletter.si/insurance-code/division-2/part-6"},{"name":"CHAPTER 1. Title Insurance [12340. - 12418.4.]","url":"https://blackletter.si/insurance-code/division-2/part-6/chapter-1"},{"name":"ARTICLE 3.7. Underwritten Title Companies [12389. - 12389.7.]","url":"https://blackletter.si/insurance-code/division-2/part-6/chapter-1/article-3.7"}],"history":"Added by Stats. 1987, Ch. 417, Sec. 3.","effective":null,"html":"<p>Before granting a license or a reissued license to act as an underwritten title company to any applicant, the commissioner shall consider the qualifications of the applicant in respect to the following subjects: (a) minimum net worth and working capital; (b) reasonableness of its plan of operation; (c) lawfulness and quality of investments; (d) financial stability; (e) competency, character, and integrity of management; (f) ownership and control of issued and outstanding shares; (g) fairness and honesty of methods of doing business; (h) method by which the applicant was promoted if any of its promoters remain as stockholders or in management; and (i) hazard to the public.</p><p>Upon consideration of all relevant qualifications, the commissioner shall issue or reissue a license to act as an underwritten title company to the applicant, unless the commissioner shall have made a finding, or findings, that the applicant is materially deficient in respect to one or more of the items outlined herein.</p>","text":"Before granting a license or a reissued license to act as an underwritten title company to any applicant, the commissioner shall consider the qualifications of the applicant in respect to the following subjects: (a) minimum net worth and working capital; (b) reasonableness of its plan of operation; (c) lawfulness and quality of investments; (d) financial stability; (e) competency, character, and integrity of management; (f) ownership and control of issued and outstanding shares; (g) fairness and honesty of methods of doing business; (h) method by which the applicant was promoted if any of its promoters remain as stockholders or in management; and (i) hazard to the public. Upon consideration of all relevant qualifications, the commissioner shall issue or reissue a license to act as an underwritten title company to the applicant, unless the commissioner shall have made a finding, or findings, that the applicant is materially deficient in respect to one or more of the items outlined herein.","otherVersions":[],"url":"https://blackletter.si/insurance-code/underwritten-title-companies-12389-1","source":"California Legislative Information bulk export (pubinfo)"}