California Insurance Code 827 – An insurer shall not sell in this state, except upon a sale for …
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An insurer shall not sell in this state, except upon a sale for delinquent assessment made in accordance with the provisions of § 423 of the Corporations Code, or offer for sale, negotiate for the sale of, or take subscriptions for any security of its own issue until it shall have first applied for and secured from the commissioner a permit authorizing it so to do.
(Amended by Stats. 1978, Ch. 349.)
Terms Used In California Insurance Code 827
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28