California § 1215.12. 1215.12. (Added by renumbering Section 1215.11 by Stats. 2012, Ch. 282, Sec. 12.)

California Statutes

§ 1215.12. — 1215.12. (Added by renumbering Section 1215.11 by Stats. 2012, Ch. 282, Sec. 12.)

California § 1215.12.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 1.DIVISION 1. GENERAL RULES GOVERNING INSURANCE

Part 2.PART 2. THE BUSINESS OF INSURANCE

Ch. 2.CHAPTER 2. Incorporated Insurers

Art. 4.7.ARTICLE 4.7. Insurance Holding Company System Regulatory Act

This text of California § 1215.12. (1215.12. (Added by renumbering Section 1215.11 by Stats. 2012, Ch. 282, Sec. 12.)) 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 § 1215.12. (2026).

Text

Whenever it appears to the commissioner that any person has committed a violation of this article which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, then the commissioner may proceed as provided in Article 14 (commencing with Section 1010) of Chapter 1 of this part to take possession of the property of the domestic insurer and to conduct the business thereof.

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Whenever it appears to the commissioner that any person has committed a violation of this article which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, then the commissioner may proceed as provided in Article 14 (commencing with Section 1010) of Chapter 1 of this part to take possession of the property of the domestic insurer and to conduct the business thereof.