California Insurance Code 1620.3 – No unauthorized foreign or alien insurer shall make, issue, circulate …
No unauthorized foreign or alien insurer shall make, issue, circulate or cause to be made, issued or circulated to residents of this State any estimate, illustration, circular, pamphlet, or letter, or cause to be made in any newspaper, magazine or other publication or over any radio or television station, any announcement or statement to such residents misrepresenting its financial condition or the terms of any contracts issued or to be issued or the benefits or advantages promised thereby, or the dividends or share of the surplus to be received thereon in violation of the Unfair Trade Practice Act, and whenever the commissioner shall have reason to believe that any such insurer is engaging in unlawful advertising, it shall be his duty to give notice of such fact by registered mail to the insurer and to the insurance supervisory official of the domiciliary state of the insurer. For the purpose of this section, the domiciliary state of an alien insurer shall be deemed to be the state of entry or the state of the principal office in the United States.
(Added by Stats. 1961, Ch. 297.)
Terms Used In California Insurance Code 1620.3
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
- Residents: means any person defined in Section 19 who is resident within the meaning of Section 30. See California Insurance Code 1620.2
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28