California Insurance Code 1104.8 – The provisions of Sections 1104.2, 1104.3, and 1104.4 shall not apply …
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The provisions of Sections 1104.2, 1104.3, and 1104.4 shall not apply to a domestic insurer if:
(a) Its stock shall be registered, or shall be required to be registered, pursuant to Section 12 of the Securities Exchange Act of 1934, as amended; or if
Terms Used In California Insurance Code 1104.8
- Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
(b) Such domestic insurer shall not have any class of its stock held of record by 100 or more persons on the last business day of the year next preceding the year in which stock of the insurer would be subject to the provisions of Sections 1104.2, 1104.3, and 1104.4 except for the provisions of this subdivision.
(Added by Stats. 1965, Ch. 38.)