reglab/housing_qa huggingface dataset:
CA Ins Code § 839.1 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 839.1.

839.1.  (a) In any case where a domestic insurer is directly affected by the total transaction for some part of which the permit applied for is needed, and the commissioner in his discretion determines that reasonable grounds exist for contentions that such total transaction or any part thereof:(1) Is a combination of capital, skill, or acts to create or carry out restrictions on or to prevent competition in the insurance business; or(2) Is a combination (in the form of a trust or otherwise) in restraint of the insurance business; or(3) Is an attempt to monopolize the insurance business; or(4) Is a conspiracy to create any of the foregoing; or(5) That such total transaction, or any part thereof, if consummated will create or result in any of the foregoing or will substantially lessen competition in the insurance business.Then, in such event, the Insurance Commissioner may make findings with respect to whether such total transaction, or any part thereof, would or would not do or be any of the foregoing.(b) In the event the Insurance Commissioner makes affirmative findings as provided in subdivision (a) of this section, he may deny the permit applied for.(Added by Stats. 1965, Ch. 1568.)
CA Ins Code § 839.5 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 839.5.

839.5.  The commissioner shall not issue a permit for the sale of any securities of a domestic insurer in any case where he finds that the expense of organization, exclusive of attorney fees, accountant fees, and actuary fees, will exceed 12 percent of the total amount actually paid for the capital stock.(Amended by Stats. 1972, Ch. 196.)
CA Ins Code § 840 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 840.

840.  The commissioner may prescribe in the permit the amounts, considerations, terms, and conditions governing the issue and disposal of the securities and the permit authorizes such issue and disposal only in accordance with its provisions.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 841 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 841.

841.  Every permit shall recite in bold type that the issuance thereof is permissive only and does not constitute a recommendation or endorsement of the securities permitted to be issued.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 842 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 842.

842.  The commissioner may impose conditions requiring the deposit in escrow of securities and the impoundment of the proceeds from the sale thereof, limiting the expense in connection with the sale thereof, and otherwise requiring such method of dealing as he deems reasonable and either necessary or advisable to insure the disposition of the proceeds of such securities in the manner and for the purposes provided in the permit.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 843 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 843.

843.  The commissioner may, from time to time and for cause, amend, alter or revoke any permit issued by him hereunder, or temporarily suspend the rights thereunder of the applicant. He also may establish such rules and regulations as are reasonable or necessary to carry out the purposes and provisions of this article.In establishing any such rules and regulations the commissioner is expressly authorized, irrespective of the other provisions of this section or this article, to specify different and simplified forms for both applications and permits where a foreign insurer, whether admitted or not, is seeking to sell or issue securities of its own issue to persons in this state and meets all the following standards:(a) It has, prior to filing the application, made a filing with the Securities and Exchange Commission;(b) It (or a predecessor) has been lawfully engaged in the insurance business for at least five years and currently is admitted to transact insurance in at least five states;(c) It currently has admitted assets of at least five million dollars ($5,000,000); and(d) It has, prior to filing the application, obtained a written permit or consent to issue such securities from the authority in its domiciliary state having jurisdiction over issuances of its securities and the statutory standards for obtaining such permit or consent are comparable to the like standards of this state.(Amended by Stats. 1965, Ch. 372.)
CA Ins Code § 844 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 844.

844.  Every insurer authorized by the commissioner to sell securities shall thereafter, at such times and in such form as he requires, make and file in his office a report, setting forth:(a) The securities sold by it under the authority of any permit issued by him. (b) The proceeds derived therefrom.(c) The disposition of such proceeds.(d) Such other information concerning its property, officers, or affairs, and relating to or affecting the value of such securities, as the commissioner requires.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 845 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 845.

845.  (a) A person shall not sell or resell any security of a domestic, foreign, or alien insurer:(1) As an insurer with respect to securities of its own issue without securing the permit of the commissioner as provided in this article.(2) As an agent of that insurer except under authority of a certificate issued by the commissioner under this code.(3) As a broker or as an agent for a broker except under authority of a certificate or license issued by the Commissioner of Business Oversight under the provisions of the Corporations Code and in full conformity with all provisions of the Corporations Code.(b) Subdivision (a) shall not prohibit a bona fide owner of securities of an insurer from selling or reselling those securities if:(1) The securities were originally issued under the authority of a permit of the commissioner and the sale or resale is made in conformity with the conditions, if any, in the permit effective at the time of sale or resale; or(2) The securities were originally issued in a jurisdiction other than California in full conformity with the applicable laws, if any, governing the issuance in that jurisdiction.A sale or resale of securities of an insurer by the owner of the securities which is made for the purpose of evading the provisions of this article requiring an insurer to secure a permit from the commissioner or for any other fraudulent purpose shall, however, be null and void and a violation of the criminal provisions of this article.(c) Any sale or resale permitted by this section is subject to the stop power of the commissioner under Section 854 and the similar powers of the Commissioner of Business Oversight pursuant to the provisions of the Corporations Code.(d) Any violation of this section is subject to the penalties provided in Section 833.(Amended by Stats. 2019, Ch. 143, Sec. 72. (SB 251) Effective January 1, 2020.)
CA Ins Code § 845.5 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 845.5.

845.5.  The certificate required by Section 845 to act as an agent of an insurer shall be secured as provided in Section 846 and shall expire on the first day of July after its issue, unless sooner suspended or revoked.The permission granted by Section 845 to persons holding certificates or licenses issued by the Commissioner of Business Oversight does not affect the provisions of this article requiring that an insurer and that an agent appointed by an insurer secure a permit or certificate from the commissioner to issue, sell, or resell securities and the issue, sale, or resale and the advertising thereof is subject to the provisions of this article, nor does that section permit an owner of securities to sell or resell the same except in conformity with that section and this article.(Amended by Stats. 2019, Ch. 143, Sec. 73. (SB 251) Effective January 1, 2020.)
CA Ins Code § 846 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 846.

846.  To secure such certificate, the applicant shall make and file in the office of the commissioner an application therefor in writing, verified by or in behalf of the applicant. Such application shall set forth:(a) The name and address of the applicant.(b) 1. In the case of an applying corporation, association or joint stock company, the name and address of each of its managing officers and managing agents. 2. In the case of an applying partnership, the name and address of each of the partners.(c) A succinct statement of facts showing possession of a good business reputation:1. By the applicant.2. In the case of an applicant corporation, association, or joint stock company, by its managing officers and managing agents.3. In the case of an applicant partnership, by its members.(d) If the applicant is a broker, the general plan and character of the business of the applicant.(e) Such other information as the commissioner requires.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 847 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 847.

847.  At the time of filing an application for a broker’s certificate, the applicant shall file with the commissioner a bond for five thousand dollars, payable to the people of the State of California, for the use and benefit of any interested person, to be approved by the commissioner. The bond shall be conditioned upon the following conduct by the broker, the broker’s agents, and employees:(a) Strict compliance with the provisions of this article.(b) Honest and faithful application of all funds received.(c) Honest and faithful performance of all obligations and undertakings in the purchase or sale of securities.(d) Payment of all damages suffered by any person damaged or defrauded by reason of the violation of any of the provisions of this article, or by reason of any fraud connected with or growing out of any transaction contemplated by the provisions of this article.(Amended by Stats. 1982, Ch. 517, Sec. 278.)
CA Ins Code § 850 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 850.

850.  If the applicant is a foreign corporation or association, it shall file with its application:(a) A copy of its articles of incorporation or association.(b) A certificate of the proper officer of the jurisdiction in which it is organized, executed not more than thirty days before the filing of such application, showing that the applicant is authorized to transact business in that jurisdiction.(c) In such form as the commissioner prescribes, its written instrument irrevocably appointing the commissioner and his successor in office its true and lawful attorney upon whom all process in any action or proceeding against it, arising out of or founded upon the fraud of such applicant in the sale of securities within this State, or in any action upon any bond provided by this article, can be served. Such service shall have the same effect as if the applicant was a domestic corporation or association lawfully served with process in this State.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 851 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 851.

851.  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.(c) Neither it nor its officers or members have violated any of the provisions of this article.(d) Neither it nor its officers or members have engaged or are about to engage in any fraudulent transaction.Otherwise, he shall deny the application and notify the applicant of his decision.Where a hearing is held under this section the proceedings shall be conducted in accordance with Chapter 5 of Part 1 of Division 3 of Title 2 of the Government Code, and the commissioner shall have all the powers granted therein.(Amended by Stats. 1945, Ch. 901.)
CA Ins Code § 852 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 852.

852.  The commissioner may at any time in accordance with the procedure provided in Section 1738 suspend or revoke any broker’s or agent’s certificate issued by him if he finds that the holder thereof is of bad business repute, or has violated any provision of this article, or has engaged, or is about to engage in any fraudulent transaction.(Amended by Stats. 1961, Ch. 280.)
CA Ins Code § 853 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 853.

853.  Every broker shall, at such times as the commissioner requires, make and file in the office of the commissioner a true and correct statement concerning any security sold or offered for sale by the broker. The statement shall show:(a) The name and location of the principal office of the issuer of such security.(b) The names of the issuer’s managing officers if it is a corporation, or of its members if it is a partnership.(c) The issuer’s assets, liabilities, and issued capital stock, at the close of its fiscal year then last ended, or at a later date.(d) The issuer’s gross income, expenses, and fixed charges for the year next preceding such date, or for such time as such issuer of such security has transacted business, if for less than one year.(e) The approximate price at which the broker has sold or proposes to sell such security.(f) Such other information, of which the broker has knowledge, as the commissioner requires.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 854 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 854.

854.  After receipt of notice in writing from the commissioner, stating that the sale of a security would, in the commissioner’s opinion, be unfair, unjust, or inequitable to the purchaser, no broker shall sell such security until and unless the commissioner in writing withdraws the objection.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 855 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 855.

855.  All writings filed with the commissioner under this article shall be open to public inspection except where, in his judgment, the public welfare or the welfare of any insurer demands that any portion of such information be not made public. In such cases he may, in his discretion, withhold such information from public inspection for such time as in his judgment is necessary.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 856 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 856.

856.  (a) The commissioner may at any time give or make public any information concerning any insurer, if in the commissioner’s judgment, the giving or publishing of the information will be of public interest.(b) The commissioner may at any time give or make public any information concerning securities purchased or sold within this state by an insurer, if in the commissioner’s judgment, the giving or publishing of the information is in the public interest or it will tend to prevent the fraudulent purchase or sale of the securities.(Amended by Stats. 1990, Ch. 1300, Sec. 1.)
CA Ins Code § 857 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 857.

857.  The commissioner shall charge and collect the following fees:(a) For filing an original or supplemental application, or any amendments thereto, for a permit to issue securities, four thousand two hundred thirty-three dollars ($4,233) except for applications for a permit to issue securities evidencing any change in rights, preferences, privileges, or restrictions on outstanding securities, or for applications for a permit to issue securities evidencing only a share dividend or a share split.(b) For filing an application for a permit to issue securities evidencing any change in the rights, preferences, privileges, or restrictions on outstanding securities, five hundred sixty-seven dollars ($567).(c) For filing an application for a permit to issue securities evidencing a share dividend or a share split, one thousand four hundred ten dollars ($1,410).(d) For filing an application for any other kind of permit, such as an application, for the issuance of a preorganizational or a negotiating permit, an application for a permit to issue options for securities, but not for the securities themselves, or any application for an amendment to an existing permit to issue securities, two hundred eighty-three dollars ($283).(e) An original or supplemental application shall not be amended after the permit sought thereby or by amendment thereto has been issued or denied.(Amended by Stats. 2017, Ch. 534, Sec. 10. (AB 1699) Effective January 1, 2018.)
CA Ins Code § 859 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 859.

859.  The commissioner shall also collect the following fees:(a) For filing any application for a broker’s certificate, two hundred eighty-three dollars ($283) for the first office or location plus one hundred thirty-six dollars ($136) for each additional office or location.(b) For filing any application for an agent’s certificate, one hundred thirty-six dollars ($136).(c) For an examination, audit, or investigation, the actual amount of expenses reasonably incurred in the performance of the work, plus the following:(1) If made by an employee of the commissioner, the actual amount of the compensation paid to that employee for that time.(2) The amount of the usual cost to the state of typing, transcribing, or otherwise preparing any written report of that examination, audit, or investigation that may reasonably be needed in the discharge of the commissioner’s duties.(Amended by Stats. 2017, Ch. 534, Sec. 11. (AB 1699) Effective January 1, 2018.)
CA Ins Code § 860 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 8 - Issue of Securities|Section 860.

860.  No fees shall be charged or collected for copies of papers, records, or official documents furnished to public officers for use in their official capacity or for the reports of the commissioner in the ordinary course of distribution.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 880 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 9 - Registration of Insurers Names|Section 880.

880.  Except as provided in this article, every insurer shall conduct its business in this State in its own name.(Enacted by Stats. 1935, Ch. 145.)
CA Ins Code § 881 (2021)
2021 California Code|Insurance Code - INS|DIVISION 1 - GENERAL RULES GOVERNING INSURANCE|PART 2 - THE BUSINESS OF INSURANCE|CHAPTER 1 - General Regulations|ARTICLE 9 - Registration of Insurers Names|Section 881.

881.  (a) The commissioner shall require the name or any changed name of every insurer (including reciprocal or interinsurance exchanges), every attorney in fact, every motor club, and every underwritten title company to be submitted to him or her by written application and approved by him or her before the name is used in this state for business purposes. If approved, the commissioner shall issue his or her official certificate approving the name, and when appropriate, reserving the name for the following time periods, which shall commence on the date of the approval:(1) One year if the applicant is newly formed, or if the application is filed on behalf of an entity to be formed, under the laws of this state.(2) One hundred eighty days and during the pendency in good faith of an application for certificate of authority in the case of a foreign or alien applicant.(3) Ninety days in the case of an admitted entity requesting authority to change the name under which it will conduct its business with the public in this state.(b) Except in the case in which an applicant has already paid a fee on a pending application for admission, the commissioner shall collect a one-hundred-thirty-six-dollar ($136) fee for filing each application for name approval and reservation. An application for name approval may contain not more than three names in the order of applicant’s preference and the commissioner’s approval shall be limited to only one name submitted by any one application.(c) The certificate of approval shall be attached to the articles of incorporation before the Secretary of State shall file the articles or any amended articles. The commissioner may reject any name submitted when it is an interference with, or too similar to one already appropriated, or when it is likely to mislead the public in any respect. In the event of a rejection, the applicant shall legally change its name to one approved by the commissioner or, if a foreign or alien insurer, may arrange to conduct any business it may do with the public in California under an approved name as an operating name, identifying itself under both its true name and operating name in the conduct of all official business with the commissioner.(d) Notwithstanding Section 1282, this section shall apply to reciprocal insurers, including their attorneys in fact, and shall apply to motor clubs.(Amended by Stats. 2017, Ch. 534, Sec. 12. (AB 1699) Effective January 1, 2018.)