The commissioner shall at all times retain full property rights in any document evidencing any license issued pursuant to Chapters 5, 6, 7, and 8 of this part. The commissioner may require the surrender of said document for any proper reason.

(Amended by Stats. 2021, Ch. 133, Sec. 5. (SB 272) Effective July 23, 2021.)

Terms Used In California Insurance Code 1651

  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • license: includes a certificate of convenience and a permanent license, and the term "persons who are licensed" includes the holders of any such certificate or the license, but these definitions and the use of those terms in this chapter shall not confer upon a certificate of convenience or any holder thereof any property right in or to the certificate, the certificate being and remaining only a temporary permit, issued as a matter of convenience, allowing the transaction of insurance without a permanent license, but within the limits, and subject to the conditions of the certificate of convenience issued and the laws applicable thereto. See California Insurance Code 1627
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