California Insurance Code

§ 11520.6

INS § 11520.6 Effective Jan 1, 1994Div. 2 · Part 2 · Ch. 12

Statute text

(a)Before granting a certificate of authority or amended certificate of authority as a grants and annuities society to any applicant, the commissioner shall consider the qualifications of the applicant with respect to the following subjects:

(1)Minimum net worth and working capital.

(2)Lawfulness and quality of investments.

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Legislative history

Added by Stats. 1993, Ch. 225, Sec. 1. Effective January 1, 1994.