California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 7 - Insurance Adjusters
Article 2 - License Applications
Section 2691.3 - Ten Percent Owners Must Meet Certain Qualifications
Universal Citation: 10 CA Code of Regs 2691.3
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
The Commissioner may, in addition to other grounds set forth in the Insurance Code, deny an application or suspend or revoke the license, if a person who directly or indirectly owns, controls, holds with power to vote, or holds proxies representing ten percent or more of the voting securities of the applicant or licensee does not meet the qualifications for such license which are set forth in Insurance Code Sections 14028 and 14061.
Note: Authority cited: Section 14013, 14025 (d), Insurance Code. Reference: Sections 14028 and 14061, Insurance Code.
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