ARTICLE 3. Certificate of Authority [699. - 728.]
Article 3 enacted by Stats. 1935, Ch. 145.
§§ 699–728 · 43 sections
- § 699 Except as specifically permitted by this code, a certificate of authority shall not be issued to an unincorporated insurer. This section shall not be…
- § 699.1 The Public Employees’ Retirement System is exempt from the provisions of this code with respect to the group life insurance program established pursuant to…
- § 699.5 (a) The ownership or financial control, in part, direct or indirect, of any domestic, foreign, or alien insurer, by any state of the United States or by a…
- § 700 (a) A person shall not transact any class of insurance business in this state without first being admitted for that class. Except for the State Compensation…
- § 700.01 In addition to any or all of the classes of insurance which it is permitted to transact by all other applicable provisions of this code, any incorporated…
- § 700.02 No insurer shall be issued a certificate of authority other than a renewal certificate of authority for any of the classes set forth in Section 100 unless at…
- § 700.025 An insurer, including a reciprocal or interinsurance exchange, admitted on January 1, 1970, to transact automobile liability insurance under class 8 and…
- § 700.03 Notwithstanding the requirements of Sections 700.01 and 10511 until June 30, 1955, the minimum paid-in capital required for renewal, for the same classes of…
- § 700.04 Paid-in capital for life insurers is governed by Section 10510 of this code, for title insurers by Section 12359, and for mortgage guaranty insurers by Section…
- § 700.05 (a) In determining the minimum amount of paid-in capital and surplus required by the applicable provisions of this code for admission of an insurer, there…
- § 701 Subject to the annual fee provisions of Section 705, every certificate of authority shall be for an indefinite term and shall expire with the expiration or…
- § 702 (a) An insurer that maintains a certificate of authority to transact insurance in this state, advertises insurance on the Internet, and transacts insurance in…
- § 703 Except when performed by a surplus line broker, the following acts are misdemeanors when done in this state: (a) Acting as agent for a nonadmitted insurer in…
- § 703.1 (a) Any nonadmitted insurer that is an eligible surplus line insurer pursuant to Section 1765.1 may advertise in all media, provided that all of the following…
- § 703.5 Any person, including, but not limited to, persons licensed or certificated under this code or exempted from regulation under this code, who as a part of any…
- § 704 The commissioner may suspend the certificate of authority of an insurer for not exceeding one year whenever he finds, after proper hearing following notice,…
- § 704.5 The commissioner may decline to grant or may suspend or revoke a certificate of authority of any holder of such certificate authorized to be certificated under…
- § 704.7 The commissioner, in any proceeding under Section 704 for any of the violations specified in that section, may, by an alternative order, permit the holder of…
- § 705 The commissioner shall require the payment of one hundred thirty-six dollars ($136), in advance, as a fee for filing an application for each amendment of a…
- § 705.1 The commissioner shall require the payment of four thousand two hundred thirty-three dollars ($4,233), in advance, as a fee for filing an application and all…
- § 706 Prior to admission each insurer shall file with the commissioner a certified copy of its last annual statement or a verified financial statement exhibiting its…
- § 706.5 The commissioner, in addition to any other proper ground for denying a certificate of authority to a nonadmitted insurer, may deny such certificate whenever,…
- § 706.7 As used in this section, the term “reciprocal state” means a state the laws of which prohibit an insurer domiciled therein from insuring the lives or persons…
- § 707 A domestic insurer shall, prior to admission, file with the commissioner a copy of its articles of incorporation and certificate of any increase or diminution…
- § 708 A foreign insurer shall, prior to admission, file with the commissioner the following: (a) If organized in a jurisdiction which requires articles to be filed,…
- § 709 If the insurer is organized in any other State, it shall, prior to admission, file with the commissioner a certificate setting forth: (a) The nature and…
- § 709.5 (a) Any insurer that is organized under the laws of any other state and is admitted to do business in this state for the purpose of writing insurance may…
- § 710 If there are any written articles of agreement or association, a copy thereof shall accompany such certificates.
- § 711 An insurer organized out of the United States shall also file such certificate and articles, but the certificate need not contain the names of any officers or…
- § 713 (a) A copy of the instrument or record of the action making any change in any of the documents filed with the commissioner pursuant to this article by a…
- § 714 The commissioner shall require the payment of seventy-two dollars ($72), in advance, as a fee for filing papers required under Section 713, on account of…
- § 715 The commissioner shall have no authority to issue a certificate of authority, other than a renewal certificate of authority, to any domestic insurer, whether…
- § 716 No certificate of authority shall be granted to a foreign or alien applicant that has not actively transacted for three years the classes of insurance for…
- § 717 Before granting a certificate of authority or amended certificate of authority to any applicant, the commissioner shall consider the qualifications of said…
- § 717.1 Where the applicant is a wholly owned domestic subsidiary of an admitted domestic insurer the commissioner shall issue a certificate of authority to such…
- § 717.2 (a) On and after January 1, 2007, for purposes of Section 717, the commissioner shall consider, with respect to any application for a certificate of authority…
- § 717.5 (a) For purposes of Sections 700 and 717, the commissioner may determine that an insurer admitted and domiciled in this state, or an insurer applying to become…
- § 718 If upon due investigation the commissioner shall find that any applicant for a certificate of authority, or amended certificate of authority, will not conduct…
- § 720 The commissioner may after notice and hearing promulgate such reasonable rules and regulations, and amendments and additions thereto, as are necessary or…
- § 721 As used in Sections 704.5, 716, 717 and 718, the term “applicant” includes the attorney-in-fact of a reciprocal or interinsurance exchange. Wherever reference…
- § 725 Any person otherwise qualified may be a director of two or more insurers, but no such interlocking directorate shall be used as a means of substantially…
- § 726 The commissioner shall notify the Secretary of State of any refusal to issue a certificate of authority to transact insurance to an applicant therefor.
- § 728 (a) For the purposes of this section, the following definitions are applicable: (1) “Subject person” means any director, officer, or employee or other natural…