California Insurance Code

§ 7049

INS § 7049Div. 2 · Part 1 · Ch. 5 · Art. 9.6

Statute text

After the policyholders have elected such a transformation a county mutual insurer shall submit to the insurance commissioner for final approval of the transformation a certified copy of all proceedings together with an application for a new certificate of authority accompanied by the necessary filing fee. The said transformation shall become effective upon the occurrence of the last of the three following events: (1) the final approval by the insurance commissioner, (2) the issuance of a new certificate of authority, and (3) the filing of certified copies of amended articles of incorporation with the Secretary of State.

Legislative history

Added by Stats. 1963, Ch. 1772.