ARTICLE 17. Loans and Investments [1100. - 1107.1.]
Article 17 enacted by Stats. 1935, Ch. 145.
§§ 1100–1107.1 · 20 sections
- § 1100 In this state, all investments and deposits of the assets of an insurer, all purchases on behalf of an insurer, and all sales made of the property and effects…
- § 1100.1 Every admitted incorporated insurer may under a certificate of authority issued pursuant to the provisions of Article 3 (commencing with Section 699), engage…
- § 1101 (a) An admitted insurer’s officers, directors, trustees, and any persons who have authority in the management of the insurer’s funds, shall not, unless…
- § 1101.1 An officer, excluding a director who holds no other office, or employee of an admitted insurer shall not receive any money or valuable thing directly or…
- § 1102 The financial obligation of any officer, director, trustee, or other person having authority in the management of an insurer’s funds shall not be guaranteed by…
- § 1103 Whenever an insurer is injured or made to suffer loss by reason of any violation of the provisions of sections 1101, 1102 or 1104, such insurer may recover…
- § 1104 An admitted insurer shall not make any loan, other than a policy loan, to any officer, director, trustee or other person having authority in the management of…
- § 1104.1 The commissioner may from time to time require any domestic admitted insurer to report to him, in such detail as he may prescribe, the moneys and securities…
- § 1104.2 Every person who is directly or indirectly the beneficial owner of more than 10 percent of any class of stock of a domestic insurer or who is a director or…
- § 1104.3 For the purpose of preventing the unfair use of information which may have been obtained by any beneficial owner of an insurer, or director or officer thereof,…
- § 1104.4 It shall be unlawful for any beneficial owner of an insurer, or director or officer thereof, described in Section 1104.2, to, directly or indirectly, sell any…
- § 1104.5 The provisions of Section 1104.3 shall not apply to any purchase and sale, or sale and purchase, and the provisions of Section 1104.4 shall not apply to any…
- § 1104.6 The provisions of Sections 1104.2, 1104.3, and 1104.4 shall not apply to foreign or domestic arbitrage transactions unless made in contravention of such rules…
- § 1104.7 The term “stock” as it is used in Sections 1104.2, 1104.3, 1104.4, 1104.5 and 1104.8 means any stock or similar security, or any security, convertible, with or…
- § 1104.8 The provisions of Sections 1104.2, 1104.3, and 1104.4 shall not apply to a domestic insurer if: (a) Its stock shall be registered, or shall be required to be…
- § 1104.9 (a) (1) As used in this section, “qualified custodian” means: (A) commercial banks (as defined in Section 105 of the Financial Code), savings and loan…
- § 1105 This article shall not prevent: (a) The purchase by any person of any asset which the commissioner requires to be sold, at a price approved by the…
- § 1106 Any person violating, or wilfully aiding another in the violation of, Sections 1101, 1101.1, 1102, 1103, 1104 or the commissioner’s order issued pursuant to…
- § 1107 In accordance with either subdivision (e) of Section 1001 or Section 1101.1 of the Corporations Code, an insurer may apply for the insurance commissioner’s…
- § 1107.1 The commissioner shall require the payment of three hundred seventy-four dollars ($374), as fee for the determination referred to in Section 1107.