California § 11420. 11420. (Enacted by Stats. 1935, Ch. 145.)

California Statutes

§ 11420. — 11420. (Enacted by Stats. 1935, Ch. 145.)

California § 11420.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 2.DIVISION 2. CLASSES OF INSURANCE

Part 2.PART 2. LIFE AND DISABILITY INSURANCE

Ch. 11.CHAPTER 11. Change by Assessment Plan Insurer to Reserve Plan

Art. 1.ARTICLE 1. Authorization and Effect

This text of California § 11420. (11420. (Enacted by Stats. 1935, Ch. 145.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 11420. (2026).

Text

Any domestic insurer providing life insurance upon the assessment plan may transform itself into an incorporated life insurer issuing policies on a reserve basis with such name as its directors or trustees determine. If incorporated, such insurer may make the transformation by amendment of its articles and by-laws, either by a majority vote of its directors or trustees or in any other lawful manner. If unincorporated it may make the transformation by incorporating.

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Any domestic insurer providing life insurance upon the assessment plan may transform itself into an incorporated life insurer issuing policies on a reserve basis with such name as its directors or trustees determine. If incorporated, such insurer may make the transformation by amendment of its articles and by-laws, either by a majority vote of its directors or trustees or in any other lawful manner. If unincorporated it may make the transformation by incorporating.

Legislative History

Enacted by Stats. 1935, Ch. 145.

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California § 11420., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/INS/11420..