California § 823. 823. (Amended by Stats. 1949, Ch. 256.)

California Statutes

§ 823. — 823. (Amended by Stats. 1949, Ch. 256.)

California·Code INS Insurance Code - INS·Div. 1. DIVISION 1. GENERAL RULES GOVERNING INSURANCE·Part 2. PART 2. THE BUSINESS OF INSURANCE·Ch. 1. CHAPTER 1. General Regulations·Art. 8. ARTICLE 8. Issue of Securities

(a)A privilege pertaining to a security giving the holder the privilege to convert such security into another security of the same insurer is not a sale of such other security.

(b)A right pertaining to a security and entitling the holder of such right to subscribe to another security of the same insurer is not a sale of such other security, but the sale of such other security upon the exercise of such right shall be subject to the provisions of this article.

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(a)
A privilege pertaining to a security giving the holder the privilege to convert such security into another security of the same insurer is not a sale of such other security.
(b)
A right pertaining to a security and entitling the holder of such right to subscribe to another security of the same insurer is not a sale of such other security, but the sale of such other security upon the exercise of such right shall be subject to the provisions of this article.

California § 823. (823. (Amended by Stats. 1949, Ch. 256.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Amended by Stats. 1949, Ch. 256.

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