California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 3 - Annual Statements
Premiums in Course of Collection
Section 2303.19 - Commissioner's Discretion
The Commissioner may exercise discretion in requiring strict compliance with the requirements of Sections 2303.1 through 2303.22 of this article where the Commissioner determines that (1) the variance is reasonable and justifiable in relation to the insurer's overall financial condition, (2) the true financial condition of the insurer may be elicited from analysis of the financial statements and other public documents as may be filed, and (3) compliance would cause undue hardship to the insurer.
1. New section
filed 10-24-2006; operative 11-23-2006 (Register 2006, No. 43).
2. Change
without regulatory effect renumbering former section 2303.19 to section
2303.18 and renumbering former section
2303.20 to new section 2303.19,
including amendment of NOTE, filed 3-25-2015 pursuant to section
100, title 1, California Code of
Regulations (Register 2015, No. 13).
3. Amendment filed 11-27-2017;
operative 1-1-2018 (Register 2017, No. 48).
Note: Authority cited: Sections 720, 730, 736, 922.8, 922.85, 923, 1011.5, 1215.9 and 12921, Insurance Code; CalFarm Insurance Company v. Deukmejian, 48 Cal. 3d 805 (1989); and 20th Century Insurance Company v. Garamendi, 8 Cal. 4th 216 (1994). Reference: Sections 700, 701, 717, 717.5, 730, 733, 736, 900, 922.1, 922.2, 922.4, 922.41, 922.5, 922.6, 923, 924, 925, 925.2, 925.4, 1011, 1011.5, 1215.5(b)(3), 1215.5(f) and 12921, Insurance Code.
