(a) The provisions of this article shall not apply to any party or entity participating in any investment by a home protection company in its subsidiary or affiliate or any debt or security instruments thereof, an effectuation or attempt to effectuate an acquisition of control or a liquidation of, or merger with, a home protection company, or any material transaction by a home protection company with its affiliate if the investment, effectuation, attempt, or transaction occurred prior to December 31, 1978.

(b) The registration required by Section 1215.4 shall first be applicable to home protection companies who are members of an insurance holding company system on January 1, 1980.

Terms Used In California Insurance Code 1215.15

  • control: includes the terms "controlling" "controlled by" and "under common control with" and means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See California Insurance Code 1215
  • insurance holding company system: consists of two or more affiliated persons, one or more of which is an insurer. See California Insurance Code 1215

(Added by renumbering Section 1215.13 1/2 by Stats. 2012, Ch. 282, Sec. 15. (SB 1448) Effective January 1, 2013.)

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