California Insurance Code

§ 1656.1

INS § 1656.1 Effective Jan 1, 2022Div. 1 · Part 2 · Ch. 5 · Art. 4

Statute text

(a)Every application for a license filed by a corporation shall contain the names and addresses of all stockholders owning 10 percent or more of the corporation’s stock and of all officers and directors of the corporation.

(b)Every such licensed corporation shall file a written notice with the commissioner of all changes, except address changes, of its stockholders who own 10 percent or more of the corporation’s stock and of all officers and directors of the corporation. Notification to the commissioner shall be sent within 30 days of the date that the licensed corporation learns of a change of its stockholders who own 10 percent or more of the corporation’s stock and of all officers and directors of the corporation.

(c)The commissioner may require the application or notice or both to also disclose additional information necessary to determine whether the applicant or licensee is in compliance with Section 1668.5.

Legislative history

Amended by Stats. 2021, Ch. 627, Sec. 5. (AB 1511) Effective January 1, 2022.