California Insurance Code

§ 851

INS § 851Div. 1 · Part 2 · Ch. 1 · Art. 8

Statute text

The commissioner shall examine such application, and shall make such further investigation of the applicant and its affairs as he deems advisable. He shall issue the certificate if, from such examination, the commissioner is satisfied that:

(a)The business reputation of the applicant and, in the case of a firm or corporation, its officers or members, is good.

(b)The sale of the securities proposed to be sold by it would not be unfair, unjust or inequitable to the purchasers thereof.

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Legislative history

Amended by Stats. 1945, Ch. 901.