California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 4 - Insurer Securities Permits
Article 2 - The Insurance Securities Law (Insurance Code Sections 820-860)
Section 2602.04 - Where Applicable

Universal Citation: 10 CA Code of Regs 2602.04
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

The Insurance Securities Law (Insurance Code Sections 820- 860) literally applies and requires the Commissioner's permit for any of the following to be done in this State: solicitation, sale or issuance of its securities by any insurer when such sale is an original issue not a secondary sale. Refer to Code Sections 821.5, 822, 827, and Opinion of California Attorney General No. 50/70, June 22, 1951, 17 Opinions California Attorney General 217, the cases cited therein and any subsequent decisions bearing on the subject. In addition, the matter of "commercial domicile" of a foreign corporation in this State may be determinative. See Western Air Lines vs. Sobieski (2nd District Court of Appeals--4/20/61), 12 Cal. Rptr. 719, 191 Cal. App. 2d 399.

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