§ 1560 This article shall apply only to domestic reciprocal insurers …
§ 1560.01 By following the procedure specified in this article, any domestic …
§ 1560.02 The definitions in this section apply to the following terms when …
§ 1560.03 A plan of conversion adopted by a domestic reciprocal insurer for the …
§ 1560.05 (a) The commissioner shall examine the plan submitted pursuant …
§ 1560.06 The meeting of subscribers prescribed by subdivision (c) of Section …
§ 1560.07 Nothing in this article shall be deemed to prohibit the inclusion in …
§ 1560.08 No director, officer, agent, or employee of the domestic reciprocal …
§ 1560.09 At any time before that plan of conversion becomes effective, the …
§ 1560.10 Upon consent by the commissioner to the plan of conversion of a …
§ 1560.11 (a) Upon the effective date of a plan of conversion in …
§ 1560.12 (a) Prior to, and for a period of five years following, the …
§ 1560.13 Unless otherwise provided in the plan of conversion, the governing …
§ 1560.14 (a) Notwithstanding any other provision of law and except as …
§ 1560.15 The offer or sale of securities issued pursuant to the plan of …
§ 1560.16 The commissioner shall have the authority from time to time, to make, …
§ 1560.17 Upon completion of the act of conversion and issuance of the …
§ 1560.18 (a) The articles of incorporation of a converted insurer that …
§ 1560.19 If the name of a domestic reciprocal insurer converting to a stock …

Terms Used In California Codes > Insurance Code > Division 1 > Part 2 > Chapter 3 > Article 17 - Conversion of Certain Reciprocal Insurers to Incorporated Stock Insurers

  • Adoption date: means the date the governing body adopts the plan of conversion. See California Insurance Code 1560.02
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Converted insurer: means the incorporated stock insurer into which a domestic reciprocal insurer has been converted in accordance with the provisions of this article. See California Insurance Code 1560.02
  • Converting insurer: means , for a plan of conversion under this article, the domestic reciprocal insurer that is converting under the plan. See California Insurance Code 1560.02
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • County: includes city and county. See California Health and Safety Code 14
  • County: includes "city and county. See California Insurance Code 14
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • department: means State Department of Health Services. See California Health and Safety Code 20
  • Director: means "State Director of Health Services. See California Health and Safety Code 21
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
  • Effective date: means the date upon which the conversion of a domestic reciprocal insurer is effective, as specified in the amended articles of incorporation of the reciprocal holding company filed with the Secretary of State, as a result of conversion proceedings under this article. See California Insurance Code 1560.02
  • Eligible subscribers: means the subscribers of the domestic reciprocal insurer who are of record, fully paid-up, and otherwise in good standing on the domestic reciprocal insurer's adoption date and on its effective date, but shall not include those persons covered solely under a reporting endorsement to a claims-made policy on either date. See California Insurance Code 1560.02
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Fraud: Intentional deception resulting in injury to another.
  • Governing body: means the body exercising subscribers' rights selected pursuant to Section 1308 for the domestic reciprocal insurer. See California Insurance Code 1560.02
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
  • Person: means an individual, partnership, firm, association, corporation, joint-stock company, limited liability company, trust, government or governmental agency, state or political subdivision of a state, public or private corporation, board, association, estate, trustee, or fiduciary, or any similar entity. See California Insurance Code 1560.02
  • plan: means a plan adopted by a domestic reciprocal insurer in compliance with this article. See California Insurance Code 1560.02
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. Source:
  • Policy: means an individual or group policy of insurance issued by a domestic reciprocal insurer. See California Insurance Code 1560.02
  • Policyholder: means the holder of a policy other than a reinsurance contract or a person covered solely under a reporting endorsement to a claims-made policy. See California Insurance Code 1560.02
  • 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
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Public defender: Represent defendants who can't afford an attorney in criminal matters.
  • Quorum: The number of legislators that must be present to do business.
  • Reciprocal holding company: means a corporation organized under the laws of this state subject to the General Corporation Law as set forth in the Corporations Code. See California Insurance Code 1560.02
  • Rights in surplus: includes rights of subscribers to a distribution of surplus in liquidation or conservation of the insurer under this code, or in a dissolution or winding up. See California Insurance Code 1560.02
  • State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
  • State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
  • Statute: A law passed by a legislature.
  • Stock holding company: means a corporation authorized to issue one or more classes of capital stock, the corporate purposes of which include holding all of the voting stock in an insurer that has been converted from a domestic reciprocal insurer into a stock insurer in proceedings under this article in which a reciprocal holding company is formed. See California Insurance Code 1560.02
  • Subscriber: means a person who, by the records of the domestic reciprocal insurer and its rules and regulations, is deemed to be a holder of a subscriber's interest in the domestic reciprocal insurer. See California Insurance Code 1560.02
  • subscription: includes mark when the signer or subscriber can not write, such signer's or subscriber's name being written near the mark by a witness who writes his own name near the signer's or subscriber's name. See California Insurance Code 18
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Voting stock: means securities of any class or any ownership interest having voting power for the election of directors, trustees, or management of a person, other than securities having voting power only because of the occurrence of a contingency. See California Insurance Code 1560.02
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.