California Insurance Code

§ 1077.2

INS § 1077.2Div. 1 · Part 2 · Ch. 1 · Art. 15.5

Statute text

(a)An insurer may be subject to administrative supervision by the commissioner if, upon examination or at any other time it appears in the commissioner’s discretion that any of the following applies:

(1)The insurer’s condition renders the continuance of its business hazardous to the public or to its insureds.

(2)The insurer appears to have exceeded its powers granted under its certificate of authority and applicable law.

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Legislative history

Added by Stats. 1991, Ch. 986, Sec. 8.