California Insurance Code

§ 1202

INS § 1202Div. 1 · Part 2 · Ch. 2 · Art. 4

Statute text

The commissioner may, in his discretion and after hearing, by written order require the disposal of any investments made in violation of the provisions of this article, pending which disposal pursuant to such order no value shall be allowed for such investment in any statement, required by any provision of this code, purporting to show the financial condition of the owner thereof, or in measuring the financial condition of the owner thereof for the purpose of determining whether such owner is solvent or insolvent. The commissioner may also, for good cause, require the disposal of any excess funds investments.

Legislative history

Amended by Stats. 1943, Ch. 872.