California § 12389.1. 12389.1. (Added by Stats. 1987, Ch. 417, Sec. 3.)

California Statutes

§ 12389.1. — 12389.1. (Added by Stats. 1987, Ch. 417, Sec. 3.)

California § 12389.1.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 2.DIVISION 2. CLASSES OF INSURANCE

Part 6.PART 6. INSURANCE COVERING LAND

Ch. 1.CHAPTER 1. Title Insurance

Art. 3.7.ARTICLE 3.7. Underwritten Title Companies

This text of California § 12389.1. (12389.1. (Added by Stats. 1987, Ch. 417, Sec. 3.)) 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 § 12389.1. (2026).

Text

Before granting a license or a reissued license to act as an underwritten title company to any applicant, the commissioner shall consider the qualifications of the applicant in respect to the following subjects:

(a)minimum net worth and working capital;

(b)reasonableness of its plan of operation;

(c)lawfulness and quality of investments;

(d)financial stability;

(e)competency, character, and integrity of management;

(f)ownership and control of issued and outstanding shares;

(g)fairness and honesty of methods of doing business;

(h)method by which the applicant was promoted if any of its promoters remain as stockholders or in management; and (i) hazard to the public. Upon consideration of all relevant qualifications, the commissioner shall issue or reissue a license to act as an

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Before granting a license or a reissued license to act as an underwritten title company to any applicant, the commissioner shall consider the qualifications of the applicant in respect to the following subjects: (a) minimum net worth and working capital; (b) reasonableness of its plan of operation; (c) lawfulness and quality of investments; (d) financial stability; (e) competency, character, and integrity of management; (f) ownership and control of issued and outstanding shares; (g) fairness and honesty of methods of doing business; (h) method by which the applicant was promoted if any of its promoters remain as stockholders or in management; and (i)
hazard to the public.
Upon consideration of all relevant qualifications, the commissioner shall issue or reissue a license to act as an underwritten title company to the applicant, unless the commissioner shall have made a finding, or findings, that the applicant is materially deficient in respect to one or more of the items outlined herein.