California Insurance Code 11091 – No foreign or alien society shall transact business in this State …
No foreign or alien society shall transact business in this State without a certificate of authority issued by the commissioner. Any such society may receive a certificate of authority to transact business in this State upon a showing that its assets are invested in accordance with the provisions of this chapter and filing with the commissioner:
(a) A duly certified copy of its charter or articles of incorporation;
Terms Used In California Insurance Code 11091
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
- Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
(b) A copy of its constitution and laws, certified by its secretary or corresponding officer;
(c) A power of attorney to the commissioner as prescribed in Section 11104;
(d) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state satisfactory to the commissioner;
(e) A valuation report prepared and executed in accordance with Section 11133 of this chapter;
(f) A certificate from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein;
(g) Copies of its certificate forms;
(h) Such other information as the commissioner may deem necessary to a proper exhibit of its plan of operation; and
(i) Payment of the fee specified in Section 11090.
Any foreign or alien society desiring admission to this State shall have the qualifications required of domestic societies organized under this chapter.
If the commissioner refuses to issue such license, he shall reduce his refusal to writing, file the same in his office and furnish a copy thereof, together with a statement of his reason therefor, to the secretary or corresponding officer of the society.
(Repealed and added by Stats. 1951, Ch. 1193.)