§ 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

  • Adoption date: means the date the governing body adopts the plan of conversion. See California Insurance Code 1560.02
  • Authorized officer: means any individual required or permitted, alone or with others, by any provision of law or by the issuing public entity, to execute on behalf of the public entity a certificated registered public obligation or a writing relating to an uncertificated registered public obligation. See California Insurance Code 1557
  • Certificated registered public obligation: means a registered public obligation which is represented by an instrument. See California Insurance Code 1557
  • Code: means the Internal Revenue Code of 1954, as amended. See California Insurance Code 1557
  • 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
  • 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
  • Facsimile seal: means the reproduction by engraving, imprinting, stamping, or other means of the seal of the issuer, official or official body. See California Insurance Code 1557
  • Facsimile signature: means the reproduction by engraving, imprinting, stamping, or other means of a manual signature. See California Insurance Code 1557
  • Financial intermediary: means a bank, broker, clearing corporation, or other person, or the nominee of any of them, which in the ordinary course of its business maintains registered public obligation accounts for its customers, when so acting. See California Insurance Code 1557
  • Governing body: means the body exercising subscribers' rights selected pursuant to Section 1308 for the domestic reciprocal insurer. See California Insurance Code 1560.02
  • Issuer: means a public entity which issues an obligation. See California Insurance Code 1557
  • issuer: means a nonprofit corporation, a joint powers authority or a parking authority. See California Insurance Code 1560.13
  • joint powers authority: means any entity defined in Section 6542. See California Insurance Code 1560.11
  • nonprofit corporation: means any nonprofit corporation formed under the Corporations Code, or otherwise, which proposes to aid any public body by issuing securities to finance any one or more public projects. See California Insurance Code 1560.10
  • Obligation: means an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement. See California Insurance Code 1557
  • Official or official body: means the officer or board that is empowered under the laws of this state to provide for original issuance of an obligation of the issuer, by defining the obligation and its terms, conditions, and other incidents, the successor or successors of any such official or official body, and such other person or group or persons as shall be assigned duties of such official or official body with respect to a registered public obligation under applicable law from time to time. See California Insurance Code 1557
  • parking authority: means any entity created pursuant to Division 18 (commencing with Section 31500) of the Streets and Highways Code. See California Insurance Code 1560.12
  • 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
  • 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
  • public body: means any county, city and county, city, municipal corporation, political subdivision, public district, public corporation or public authority, or any agency of any thereof, but does not include the federal government or any federal department or agency, this state, an adjoining state or any state department or agency. See California Insurance Code 1560.14
  • public leaseback: means any lease by a public body of all or any part of a public project where the lease is between such public body as lessee and an issuer as lessor and the lease is executed before the public project is acquired, constructed or completed. See California Insurance Code 1560.17
  • public project: means any land, structure, facility or equipment or other personal property, the acquisition, construction or completion of which is to be financed by securities of an issuer if any of the payments of principal of and interest on such securities is to be paid by such issuer from funds derived from rental or other payments which any one or more public bodies has agreed to pay to such issuer under a public leaseback. See California Insurance Code 1560.16
  • 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
  • Registered public obligation: means an obligation issued by a public entity pursuant to a system of registration. See California Insurance Code 1557
  • 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
  • securities: means any bonds, notes, warrants or other evidences of indebtedness and the interest coupons, if any, attached thereto, issued or proposed to be issued in an aggregate principal amount of five hundred thousand dollars ($500,000) or more by any issuer to finance a public project. See California Insurance Code 1560.15
  • 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
  • Uncertificated registered public obligation: means a registered public obligation which is not represented by an instrument. See California Insurance Code 1557
  • 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