California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 11 - Separate Account or Accounts-Variable Contracts
Section 2532 - Foreign Insurers

If the law or regulation in the place of domicile of a foreign insurer or the state of entry or a Canadian insurer provides a degree of protection to the policyholders and the public which is substantially equal to that provided by these regulations, the Commissioner, to the extent deemed appropriate by him in his discretion, may consider compliance with such law or regulation as compliance with these regulations.