§ 4093. — 4093. (Amended by Stats. 2017, Ch. 534, Sec. 53.)

California § 4093.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 2.: DIVISION 2. CLASSES OF INSURANCE
• Part 1.: PART 1. FIRE AND MARINE INSURANCE
• Ch. 4.: CHAPTER 4. General Mutual Insurers
• Art. 9.: ARTICLE 9. Merger, Consolidation, Reinsurance, or Transfer of Assets and Liabilities

Text

If the vote is in the affirmative, a certified copy of all proceedings relating to the proposed transaction shall be filed with the commissioner. If one of the insurers that is a party to the transaction is a foreign corporation there shall also be filed with the commissioner evidence of an approval, consent, or authorization as may be required by the laws of the state of incorporation of the foreign insurer. If the commissioner finds that the proceedings have been in accordance with the law and the commissioner’s requirements, he or she shall issue a certificate approving the plan and agreement and the transaction shall become effective when the certificate, the agreement, and any other documents required by law have been filed with the Secretary of State.
The fee for
issuing the certificate approving the transaction shall be six thousand three hundred fifty dollars ($6,350), payable in advance with the filing with the commissioner of the first papers relating to the proposed transaction; eight dollars ($8) shall be charged for each signed and sealed or certified copy thereof issued as part of the same transaction in which the original certificate is issued.

Legislative History

Amended by Stats. 2017, Ch. 534, Sec. 53. (AB 1699) Effective January 1, 2018.