{"code":"INS","codeName":"Insurance Code","section":"715","citation":"Ins. Code, § 715","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1. GENERAL RULES GOVERNING INSURANCE [100. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1"},{"name":"PART 2. THE BUSINESS OF INSURANCE [680. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1/part-2"},{"name":"CHAPTER 1. General Regulations [680. - 1113.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-1"},{"name":"ARTICLE 3. Certificate of Authority [699. - 728.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-1/article-3"}],"history":"Amended by Stats. 1972, Ch. 196.","effective":null,"html":"<p>The commissioner shall have no authority to issue a certificate of authority, other than a renewal certificate of authority, to any domestic insurer, whether organized and promoted directly or by means of a holding company, where the commissioner’s examination shows that the expense of organization and promotion, exclusive of attorney fees, accountant fees, and actuary fees, exceeds 12 percent of the total amount actually paid on its capital stock.</p>","text":"The commissioner shall have no authority to issue a certificate of authority, other than a renewal certificate of authority, to any domestic insurer, whether organized and promoted directly or by means of a holding company, where the commissioner’s examination shows that the expense of organization and promotion, exclusive of attorney fees, accountant fees, and actuary fees, exceeds 12 percent of the total amount actually paid on its capital stock.","otherVersions":[],"url":"https://blackletter.si/insurance-code/certificate-of-authority-715","source":"California Legislative Information bulk export (pubinfo)"}