California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 4 - Insurer Securities Permits
Article 3 - Applications-in General
Section 2603.01 - Made by Whom
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
Unless otherwise specified by statute or these regulations, an application for an insurer securities permit shall be made as follows:
A. Where an existing insurer, as defined by paragraph C of Section 2601.02, supra, proposes to sell and issue its securities, by the insurer entity.
B. For a preorganization permit, by the individual or individuals seeking to organize the insurer.
C. For a subscription permit, by the corporate entity which seeks to solicit subscriptions for its stock.
D. For a negotiating permit, by the insurer which seeks directly or indirectly to solicit, offer, sell and issue or exchange its securities. See also Section 2602.06 A, supra.
E. For a permit to solicit powers of attorney and applications for policies of insurance to organize a reciprocal insurer pursuant to Insurance Code Section 1511, by its Attorney-in-Fact. (Section 1322)
F. For a permit authorizing a reciprocal insurer to issue its securities, by the interinsurance exchange itself.
