California § 1215.14. 1215.14. (Added by renumbering Section 1215.13 by Stats. 2012, Ch. 282, Sec. 14.)

California Statutes

§ 1215.14. — 1215.14. (Added by renumbering Section 1215.13 by Stats. 2012, Ch. 282, Sec. 14.)

California § 1215.14.

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 § 1215.14. (1215.14. (Added by renumbering Section 1215.13 by Stats. 2012, Ch. 282, Sec. 14.)) 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 § 1215.14. (2026).

Text

(a)For the purposes of this article only, every foreign insurer, except an insurer described in Article 2 (commencing with Section 12350) of Chapter 1 of Part 6 of Division 2, that is authorized to do business in this state and that, during its three preceding fiscal years taken together, or during any lesser period of time if it has been licensed to transact its business in California only for such lesser period of time, has written an average of more direct premiums in the State of California than it has written in its state of domicile during the same period, and those direct premiums written constitute 33 percent or more of its total direct premiums written everywhere in the United States for that three-year or lesser period, as reported in its three most recent annual statement

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(a)
For the purposes of this article only, every foreign insurer, except an insurer described in Article 2 (commencing with Section 12350) of Chapter 1 of Part 6 of Division 2, that is authorized to do business in this state and that, during its three preceding fiscal years taken together, or during any lesser period of time if it has been licensed to transact its business in California only for such lesser period of time, has written an average of more direct premiums in the State of California than it has written in its state of domicile during the same period, and those direct premiums
written constitute 33 percent or more of its total direct premiums written everywhere in the United States for that three-year or lesser period, as reported in its three most recent annual statements, shall be deemed a “commercially domiciled insurer” within the State of California.
(b)
The commissioner may exempt from the provisions of this article any commercially domiciled insurer made subject to this article by subdivision (a) if he or she determines that it has a sufficiently large amount of assets and the evidences of title thereto physically located in California, or that the ratio of those assets to its California policyholder liability is sufficiently large, as to justify the conclusion that there is no reasonable danger that the operations or conduct of the business of the insurer could present a danger of loss
to California policyholders. The commissioner may also exempt from the provisions of this article any commercially domiciled insurer made subject to this article by subdivision (a) under the circumstances that he or she deems appropriate.
(c)
This section does not exempt any foreign insurer that is authorized to do business in this state, including a commercially domiciled insurer, from the provisions of any other sections of this article that may be applicable to the insurer.