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·Code INS Insurance 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

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.

California § 1215.12. (1215.12. (Added by renumbering Section 1215.11 by Stats. 2012, Ch. 282, Sec. 12.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.