Cal. Code Regs. tit. 10 § 2691.3

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 2691.3 - Ten Percent Owners Must Meet Certain Qualifications

The Commissioner may, in addition to other grounds set forth in the Insurance Code, deny an application or suspend or revoke the license, if a person who directly or indirectly owns, controls, holds with power to vote, or holds proxies representing ten percent or more of the voting securities of the applicant or licensee does not meet the qualifications for such license which are set forth in Insurance Code Sections 14028 and 14061.

Cal. Code Regs. Tit. 10, § 2691.3

Note: Authority cited: Section 14013, 14025 (d), Insurance Code. Reference: Sections 14028 and 14061, Insurance Code.