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·Code INS Insurance 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

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.

California § 12389.1. (12389.1. (Added by Stats. 1987, Ch. 417, Sec. 3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.