§ 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
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Boat: means any vessel that is any of the following:

    California Insurance Code 1140

  • Charterer: means a person who receives compensation for contracting with an operator to transport three or more passengers. See California Insurance Code 1553
  • Coast Guard: means the United States Coast Guard. See California Insurance Code 1553
  • Commissioner: means the Insurance Commissioner of this State. See California Education Code 25022.5
  • 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
  • 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 Education Code 19479
  • County: includes "city and county. See California Education Code 25018.5
  • Domestic: means organized under the laws of this State, whether or not admitted. See California Education Code 32031
  • 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
  • Fiduciary: A trustee, executor, or administrator.
  • Governing body: means the body exercising subscribers' rights selected pursuant to Section 1308 for the domestic reciprocal insurer. See California Insurance Code 1560.02
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Operator: means a person owning, controlling, operating, or managing a for-hire vessel. See California Insurance Code 1553
  • 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, association, organization, partnership, business trust, limited liability company, or corporation. See California Education Code 25022
  • 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
  • Person: means any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Education Code 19500
  • 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
  • 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
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • 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 Education Code 32033
  • State: means the State of California, unless applied to the different parts of the United States. See California Education Code 19510
  • 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 Education Code 25021
  • Trustee: A person or institution holding and administering property in trust.
  • Vessel: includes every description of a watercraft or other artificial contrivance used or capable of being used as a means of transportation on water, except either of the following:

    California Insurance Code 1140

  • Vessel: includes ships of all kinds, steamboats, steamships, canal boats, barges, sailing vessels, and every structure adapted to be navigated from place to place for the transportation of merchandise or persons. See California Education Code 19511
  • 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.