reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.3 - Filing of Statements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Initial statements of beneficial ownership of equity
					 securities required by Section
					 1104.2 shall be filed on Form A,
					 attached hereto. Statements of changes in such beneficial ownership required by
					 said Section
					 1104.2 shall be filed on Form B,
					 attached hereto. All such statements shall be prepared and filed in accordance
					 with the requirements of the applicable form.
Click
					 here to view image
1.
				  PERSONS REQUIRED TO FILE STATEMENTS.
A statement on this form is required to be filed by every
					 person who is directly or indirectly the beneficial owner of more than 10
					 percent of any class of any equity security of a California stock insurance
					 company, or who is director or an officer of such a company.
2. WHEN STATEMENTS ARE TO BE FILED.
(a) Persons who hold any of the relationships
				  specified in Instruction 1 are required to file a statement within 10 days
				  after assuming such relationship.
(b) Statements are not deemed to have been
				  filed with the Commissioner until they have actually been received by
				  him.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.4 - Ownership of More than 10 Percent of an Equity Security

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In determining, for the purpose of Section
					 1104.2 whether a person is the
					 beneficial owner, directly or indirectly, of more than 10 percent of any class
					 of any equity security, such class shall be deemed to consist of the total
					 amount of such class outstanding, exclusive of any securities of such class
					 held by or for the account of the insurer or a subsidiary of the insurer;
					 except that for the purpose of determining percentage ownership of voting trust
					 certificates or certificates of deposit for equity securities, the class of
					 voting trust certificates or certificates of deposit shall be deemed to consist
					 of the amount of voting trust certificates or certificates of deposit issuable
					 with respect to the total amount of outstanding equity securities of the class
					 which may be deposited under the voting trust agreement or deposit agreement in
					 question, whether or not all of such outstanding securities have been so
					 deposited. For the purpose of this section a person acting in good faith may
					 rely on the information contained in the latest Convention Form Statement filed
					 with the Insurance Commissioner with respect to the amount of securities of a
					 class outstanding; or in the case of voting trust certificates or certificates
					 of deposit, the amount thereof issuable.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.5 - Disclaimer of Beneficial Ownership

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any person filing a statement may expressly declare therein
					 that the filing of such statement shall not be construed as an admission that
					 such person, is for the purpose of Sections
					 1104.2 to
					 1104.8, the beneficial owner of
					 any equity securities covered by the statement.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.6 - Exemptions from Section 1104.3

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) During the period of 12 months following
				  their appointment and qualification, securities held by the following persons
				  shall be exempt from Section
				  1104.3:
(1) Executors or administrators of the estate
				  of a decedent;
(2) Guardians or
				  committees for an incompetent; and
(3) Receivers, trustees in bankruptcy,
				  assignees for the benefit of creditors, conservators, liquidating agents, and
				  other similar persons duly authorized by law to administer the estate or assets
				  of other persons.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.7 - Exemption of Securities Purchased or Sold by Odd-Lot Dealers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Securities purchased or sold by an odd-lot dealer (1) in
					 odd lots so far as reasonably necessary to carry on odd-lot transactions or (2)
					 in round lots to offset odd-lot transactions previously or simultaneously
					 executed or reasonably anticipated in the usual course of business, shall be
					 exempt from Section
					 1104.3 with respect to
					 participation by such odd-lot dealer in such transactions.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.8 - Transferable Options, Puts, Calls, Spreads and Straddles

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The acquisition or disposition of any transferable option,
					 put, call, spread or straddle shall be deemed such a change in the beneficial
					 ownership of the security to which such privilege relates as to be included in
					 the requirement for the filing of a statement reflecting the acquisition or
					 disposition of such privilege set forth in Section
					 2682.3 hereof. Nothing in this
					 section, however, shall exempt any person from filing the statements required
					 upon the exercise of such option, put, call, spread or
					 straddle.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.9 - Ownership of Securities Held in Trust

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Beneficial ownership of a security shall
				  include:
(1) the ownership of securities as a
				  trustee where either the trustee or member of the trustee's immediate family
				  have a vested interest in the income or corpus of the trust.
(2) the ownership of a vested beneficial
				  interest in trust, and
(3) the
				  ownership of securities as a settlor of a trust in which the settlor has the
				  power to revoke the trust without obtaining the consent of all the
				  beneficiaries.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.10 - Exemptions for Small Transactions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Any acquisition of securities shall be
				  exempt from Section
				  1104.3 where
(1) The person effecting the acquisition does
				  not within six months thereafter effect any disposition, otherwise than by way
				  of gift, of securities of the same class, and
(2) The person effecting such acquisition
				  does not participate in acquisitions or in dispositions of securities of the
				  same class having a total market value in excess of $3,000 for any six months'
				  period during which the acquisition occurs.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.11 - Exemption from Section 1104.2 of Certain Transactions Exempted from Section 1104.3

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any transaction which has been or shall be exempted by the
					 foregoing sections hereof from Section
					 1104.3 shall, insofar as it is
					 otherwise subject to the requirements of Section
					 1104.2, be likewise exempted from
					 Section 1104.2.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.12 - Exemption from Section 1104.3 of Certain Transactions Effected in Connection with Distribution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Any transaction of purchase and sale, or sale and purchase, of a security which
				  is effected in connection with the distribution of a substantial block of
				  securities shall be exempt from the provisions of Section
				  1104.3 to the extent specified in
				  this section as not comprehended within the purpose of said section, upon the
				  following conditions:
(1) The person effecting
				  the transaction is engaged in the business of distributing securities and is
				  participating in good faith, in the ordinary course of such business, in the
				  distribution of such block of securities;
(2) The security involved in the transaction
				  is
(A) a part of such block of securities and
				  is acquired by the person effecting the transaction, with a view to the
				  distribution thereof, from the insurer or other person on whose behalf such
				  securities are being distributed or from a person who is participating in good
				  faith in the distribution of such block of securities or
(B) a security purchased in good faith by or
				  for the account of the person effecting the transaction for the purpose of
				  stabilizing the market price of securities of the class being distributed or to
				  cover an over-allotment or other short position created in connection with such
				  distribution; and
(3)
				  Other persons not within the purview of Section
				  1104.3 are participating in the
				  distribution of such block of securities on terms at least as favorable as
				  those on which such person is participating and to an extent at least equal to
				  the aggregate participation of all persons exempted from the provisions of
				  Section 1104.3 by this section. However,
				  the performance of the functions of manager of a distributing group and the
				  receipt of a bona fide payment for performing such functions shall not preclude
				  an exemption which would otherwise be available under this
				  section.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.13 - Exemption from Section 1104.3 of Acquisitions of Shares of Stock and Stock Options Under Certain Stock Bonus, Stock Option of Similar Plans

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any acquisition of shares of stock (other than stock
					 acquired upon the exercise of an option, warrant or right) pursuant to a stock
					 bonus, profit sharing, retirement, incentive, thrift, savings or similar plan,
					 or any acquisition of a qualified or a restricted stock option pursuant to a
					 qualified or a restricted stock option plan, or a stock option pursuant to an
					 employee stock purchase plan, by a director or officer of an insurer issuing
					 such stock or stock option shall be exempt from operation of Section
					 1104.3 if the plan meets the
					 following conditions:
(a) The plan has
				  been approved, directly or indirectly,
(1) by
				  the affirmative votes of the holders of a majority of the securities of such
				  insurer present, or represented, and entitled to a vote at a meeting duly held
				  in accordance with the applicable laws of this State, or
(2) by the written consent of the holders of
				  a majority of the securities of such insurer entitled to vote:
provided, however,
that if such vote or written consent was
				  not solicited substantially in accordance with the proxy rules and regulations
				  prescribed by Article 1, Subchapter 5, Chapter 5, of Title 10 of the California
				  Administrative Code commencing at Section
				  2680.1, in effect at the time of
				  such vote or written consent, the insurer shall furnish in writing to the
				  holders of record of the securities entitled to vote for the plan substantially
				  the same information concerning the plan which would be required by said
				  Article as in effect at the time such information is furnished, if proxies to
				  be voted with respect to the approval or disapproval of the plan were then
				  being solicited, on or prior to the date of the first annual meeting of
				  security holders held subsequent to the later of (a) the date Sections
				  1104.2 to
				  1104.8 first apply to such
				  insurer, or (b) the acquisition of an equity security for which exemption is
				  claimed. Such written information may be furnished by mail to the last known
				  address of the security holders of record within 30 days prior to the date of
				  mailing. Four copies of such written information shall be filed with, or mailed
				  for filing to, the Insurance Commissioner not later than the date on which it
				  is first sent or given to security holders of the insurer. For the purposes of
				  this paragraph, the term "insurer" includes a predecessor corporation if the
				  plan or obligations to participate thereunder were assumed by the insurer in
				  connection with the succession.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.14 - Exemption from Section 1104.3 of Certain Transactions in Which Securities Are Received by Redeeming Other Securities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any acquisition of an equity security (other than a
					 convertible security or right to purchase a security) by a director or officer
					 of the insurer issuing such security shall be exempt from the operation of
					 Section 1104.3 upon condition that
(a) the equity security is acquired by way of
				  redemption of another security of an insurer substantially all of whose assets
				  other than cash (or Government bonds) consist of securities of the insurer
				  issuing the equity security so acquired and which
(1) represented substantially and in
				  practical effect a stated or readily ascertainable amount of such equity
				  security,
(2) had a value which was
				  substantially determined by the value of such equity security, and
(3) conferred upon the holder the right to
				  receive such equity security without the payment of any consideration other
				  than the security redeemed.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.15 - Exemption of Long Term Profits Incident to Sales Within Six Months of the Exercise of an Option

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) To
				  the extent specified in paragraph (b) of this section, there is hereby
				  exempted, as not comprehended within the purposes of Section
				  1104.3 any transaction or
				  transactions involving the purchase and sale, or sale and purchase, of any
				  equity security where such purchase is pursuant to the exercise of an option or
				  similar right either
(1) acquired more than
				  six months before its exercise, or
(2) acquired pursuant to the terms of an
				  employment contract entered into more than six months before its
				  exercise.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.16 - Exemptions from Section 1104.3 of Certain Acquisitions and Dispositions of Securities Pursuant to Merger or Consolidation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The following transactions shall be
				  exempt from the provisions of Section
				  1104.3 as not comprehended within
				  the purpose of said Section:
(1) the
				  acquisition of a security of an insurer, pursuant to a merger or consolidation,
				  in exchange for a security of a company which, prior to said merger or
				  consolidation, owned 85 percent or more of the equity securities of all other
				  companies involved in the merger or consolidation except, in the case of
				  consolidation, the resulting company;
(2) The disposition of a security, pursuant
				  to a merger or consolidation of an insurer which, prior to said merger or
				  consolidation, owned 85 percent or more of the equity securities of all other
				  companies involved in the merger of consolidation except, in the case of
				  consolidation, the resulting company;
(3) The acquisition of a security of an
				  insurer, pursuant to a merger or consolidation, in exchange for a security of a
				  company which, prior to said merger or consolidation, held over 85 percent of
				  the combined assets of all the companies undergoing merger or consolidations,
				  computed according to their book values prior to the merger or consolidation as
				  determined by reference to their most recent available financial statements for
				  a 12-month period prior to the merger or consolidation.
(4) The disposition of a security, pursuant
				  to a merger or consolidation, of an insurer which, prior to said merger or
				  consolidation, held over 85 percent of the combined assets of all the companies
				  undergoing merger or consolidation, computed according to their book values
				  prior to merger or consolidation, as determined by reference to their most
				  recent available financial statements for a 12-month period prior to the merger
				  or consolidation.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.17 - Exemption from Section 1104.3 of Certain Securities Received upon Surrender of Similar Equity Securities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any receipt by a person from an insurer of shares of stock
					 of a class having general voting power, upon the surrender by such person of an
					 equal number of shares of stock of the insurer of a class which does not have
					 general voting power pursuant to provisions of the insurer's certificate of
					 incorporation, for the purpose of and accompanied simultaneously or followed
					 immediately by the sale of the shares so received, shall be exempt from the
					 operation of Section
					 1104.3 as a transaction not
					 comprehended within the purpose of said section, if the following conditions
					 exist:
(a) The person so receiving
				  such shares is not an officer or director, or the beneficial owner, directly or
				  indirectly, immediately prior to such receipt, of more than 10 percent of an
				  equity security of the insurer;
(b)
				  The shares surrendered and the shares issued upon such surrender shall be
				  classes which are freely transferable and entitle the holders thereof to
				  participate equally per share in all distribution of earnings and
				  assets;
(c) The surrender and
				  issuance are made pursuant to provisions of a certificate of incorporation
				  which require that the shares issued upon such surrender shall be registered
				  upon issuance in the name of a person or persons other than the holder of the
				  shares surrendered and may be required to be issued as of right only in
				  connection with the public offering, sale and distribution of such shares and
				  the immediate sale by such holder of such shares for that purpose, or in
				  connection with a gift of such shares.
(d) Neither the shares so surrendered nor any
				  shares of the same class, nor other shares of the same class as those issued
				  upon such surrender, have been or are purchased (otherwise than in a
				  transaction exempted by this section), by the person surrendering such shares,
				  within six months before or after such surrender or issuance.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.18 - Exemption from Section 1104.3 of Certain Transactions Involving an Exchange of Similar Securities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any acquisition or disposition of securities made in an
					 exchange of shares of a class (or series thereof) of stock of an insurer for an
					 equivalent number of shares of another class (or series thereof) of stock of
					 the same insurer, pursuant to a right of conversion under the terms of the
					 insurer's charter or other governing instruments shall be exempt from the
					 operation of Section
					 1104.3 if--
(1) The shares surrendered and those acquired
				  in exchange therefor evidence substantially the same rights and privileges
				  except that, pursuant to the provisions of the insurer's charter of other
				  governing instruments, the board of directors may declare and pay a lesser
				  dividend per share on shares of the class surrendered than on shares of the
				  class acquired in exchange therefor, or may declare and pay no dividend on
				  shares of the class surrendered; and
(2) The transaction was effected in
				  contemplation of a public sale of the shares acquired in the exchange;
provided
that this section shall not be construed to exempt
				  from the operation of Section
				  1104.3 any purchase or sale of
				  shares of the class surrendered and any sale or purchase of shares of the class
				  acquired in the exchange (otherwise than in the transaction of exchange
				  exempted by this section) within a period of less than six months.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.19 - Exemption of Certain Transactions by a Dealer in Securities in Which that Dealer Has NO Interest

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Transactions in any security shall be exempt from the
					 operation of Section
					 1104.4 to the extent necessary to
					 render lawful under such section the execution by a broker of an order for an
					 account in which that broker has no direct or indirect
					 interest.
1. Change
					 without regulatory effect amending section heading and section filed 7-14-2021
					 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2021, No. 29). Filing deadline specified in Government
					 Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order
					 N-40-20.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.20 - Exemption from Section 1104.4 of Certain Transactions Effected in Connection with a Distribution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any security shall be exempt from the operation of Section
					 1104.4 to the extent necessary to
					 render lawful under such section any sale made by or on behalf of a dealer in
					 connection with a distribution of a substantial block of securities, upon the
					 following conditions:
(a) The sale is
				  represented by an over-allotment in which the dealer is participating as a
				  member of an underwriting group, or the dealer or a person acting on the
				  dealer's behalf intends in good faith to offset such sale with a security to be
				  acquired by or on behalf of the dealer as a participant in an underwriting,
				  selling or soliciting-dealer group of which the dealer is a member at the time
				  of the sale, whether or not the security to be so acquired is subject to a
				  prior offering to existing security holders or some other class of persons;
				  and
(b) Other persons not within
				  the purview of Section
				  1104.4 are participating in the
				  distribution of such block of securities on terms at least as favorable as
				  those on which such dealer is participating and to an extent at least equal to
				  the aggregate participation of all persons exempted from the provisions of
				  Section 1104.4 by this section. However,
				  the performance of the functions of manager of a distributing group and the
				  receipt of a bona fide payment for performing such functions shall not preclude
				  an exemption which would otherwise be available under this section.
1. Change
					 without regulatory effect amending subsection (a) filed 7-14-2021 pursuant to
					 section 100, title 1, California Code of
					 Regulations (Register 2021, No. 29). Filing deadline specified in Government
					 Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order
					 N-40-20.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.21 - Exemption from Section 1104.4 of Sales of Securities to be Acquired

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Whenever any
				  person is entitled, as an incident to that person's ownership of an issued
				  security and without the payment of consideration, to receive another security
				  "when issued" or "when distributed," the security to be acquired shall be
				  exempt from the operation of Section
				  1104.4. provided that:
(1) the sale is made subject to the same
				  conditions as those attaching to the right of acquisition, and
(2) such person exercises reasonable
				  diligence to deliver such security to the purchaser promptly after such
				  person's right of acquisition matures, and
(3) such person reports the sale on the
				  appropriate form for reporting transactions by persons subject to Section
				  1104.2.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 2 - Insider Trading › Section 2682.22 - Arbitrage Transactions Under Section 2682.7

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
It shall be unlawful for any director or officer of an
					 insurer to effect any foreign or domestic arbitrage transaction in any equity
					 security of such insurer, unless that director or officer of an insurer shall
					 include such transaction in the statements required by Section
					 1104.2 and shall account to such
					 insurer for the profits arising from such transaction, as provided in Section
					 1104.3. The provisions of Section
					 1104.4 shall not apply to such
					 arbitrage transactions. The provisions of Section
					 1104.2 to
					 1104.8 shall not apply to any bona
					 fide foreign or domestic arbitrage transaction insofar as it is effected by any
					 person other than such director or officer of the insurer.
1. Change
					 without regulatory effect amending section filed 7-14-2021 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2021, No. 29). Filing deadline specified in Government
					 Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order
					 N-40-20.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683 - Authority

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
These regulations are promulgated pursuant to the authority
					 granted the Insurance Commissioner by the Insurance Holding Company System
					 Regulatory Act (sometimes referred to herein as "the Act," "said Act" or "said
					 Article 4.7"), Chapter 1275, Statutes of 1969, now Insurance Code Sections
					 1215
					 through
					 1215.14,
					 which becomes effective November 10, 1969. Reference herein to said Act are to
					 the same as it now exists or may hereafter be amended.
1. New
					 Article 3 (Sections
					 2683 through
					 2683.15) filed 12-18-9 as an
					 emergency; designated effective 12-22-69 (Register 69, No. 15).
2.
					 Certificate of Compliance--Sec.
					 11422.1, Gov. C. filed 3-20-70
					 (Register 70, No. 12).
3. Amendment of Article 3 (Sections
					 2683 through
					 2683.23) filed 3-20-70; effective
					 thirtieth day thereafter (Register 70, No. 12).
Note: Authority cited for Article 3 (Sections
						2683 through
						2683.15): Sec.
						1215.8 Insurance
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.1 - Purpose

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The purpose of these regulations are: to set forth rules
					 and procedural requirements which the Commissioner deems necessary to carry out
					 the provisions of the Act. The information called for by these regulations is
					 hereby declared to be necessary and appropriate in the public interest and for
					 the protection of policy holders and shareholders in this State. These
					 regulations shall not curtail or contravene any statute.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.2 - Severability Clause

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
If any provisions of these regulations, or the application
					 thereof to any person or circumstances, is held invalid, such invalidity shall
					 not affect other provisions or applications of these regulations which can be
					 given effect without the invalid provision or application, and to that end the
					 provisions of these regulations are severable.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.3 - Reporting to be in English Language; Financial Statements in U.S. Of A. Dollars and Cents

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The forms and any exhibits filed pursuant to these
					 regulations shall be in the English language. Any exhibit submitted in a
					 foreign language shall be accompanied by an accurate translation into English.
					 Monetary value shown on all forms and exhibits shall be stated in dollars and
					 cents of the United States of America monetary system.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.4 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) "Executive
				  officer" means any individual charged with active management and control in an
				  executive capacity (including a president, vice president, treasurer,
				  secretary, controller, or other individual performing like functions) of the
				  person registering, reporting or filing under these regulations, whether such
				  reporting person is incorporated or unincorporated.
(b) "Ultimate controlling person" means that
				  controlling person within an insurance holding company system, which
				  controlling person is not controlled by any other person.
(c) Unless the context otherwise requires,
				  other terms found in these regulations and in Section
				  1215 of the
				  Insurance Code are used as defined in last said section. Other nomenclature or
				  terminology is according to the Insurance Code, or industry usage if not
				  defined by the Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.5 - Letter of Transmittal

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Each form or amendment filed pursuant to these regulations
					 shall be accompanied by a letter of transmittal which letter shall include a
					 statement of the name, title, address and telephone number of the individual to
					 whom communications concerning the paper filed should be
					 addressed.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.6 - Forms-in General

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The
				  forms set forth in these regulations are intended as a guide in determining and
				  preparing the information to be supplied and the order in which it is to be
				  listed.
(b) Any form set forth in
				  these regulations may be reproduced at the user's discretion so as to provide
				  additional space after item as may be needed for entry of information thereon.
				  Information that is capable of being stated briefly may be filled out on the
				  form. Other required information which must be specially prepared should be
				  presented on separate exhibits identified and referred to in the appropriate
				  place or places on the form being filed. Such a specially prepared exhibit need
				  not repeat the language of the item on the form in response to which it is
				  supplied, but the exhibit should be captioned with reference to the form, the
				  numbered item on the form and the nature of the information contained in the
				  exhibit.
(c) Papers filed shall
				  normally be limited to 8 1/2" x 13" in size and preferably bound at the top.
				  National Association of Insurance Commissioners convention form annual
				  statements may be furnished in their full size, but any such applicable current
				  statements already on file may be incorporated by reference. The instructions
				  contained in subdivision (b) of this section pertaining to special exhibits
				  likewise apply. Each such completed filing shall either be captioned with
				  reference to the appropriate Department form or shall otherwise be clearly
				  labeled as to its nature.
(d) Every
				  filing, report, or request made pursuant to these regulations shall state on
				  the face page thereof the names and addresses of all persons on whose behalf
				  the same is made and filed.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.7 - Incorporation by Reference

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Except as otherwise provided in this section, a person making any report,
				  request, or filing required by the Act may incorporate therein by reference any
				  required then current appropriate information already on file with the
				  Commissioner, or any diagram or chart previously filed. In such event, the
				  person filing shall cause the paper filed to identify the report, statement,
				  document, instrument, diagram, chart or other paper to which reference is made,
				  the approximate date it was filed with the Commissioner, and the page or pages
				  thereof wherein is shown the information incorporated by reference.
(b) Subdivision (a) above shall not apply to
				  the Information Statement and accompanying papers (see Form A) reburied by
				  Insurance Code Section
				  1215.2 of
				  the Act and these regulations in connection with a tender offer, an offer of
				  acquisition and the like. Such Information Statements shall be complete in
				  themselves.
(c) Whenever any action
				  authorized to be taken by the commissioner under said Act may be done only
				  after notice and hearing, all information required by the Act and these
				  regulations to be filed in connection with such action by the Commissioner
				  shall be provided in full without incorporation by reference.
(d) In the event that a finding or
				  determination or any action made or taken by the Commissioner pursuant to the
				  Act appears to be the probable subject of judicial review, the admitted insurer
				  or person making the filing on the basis of which such finding or determination
				  was made or such action is to be taken shall, at the Commissioner's request,
				  file the required information in full without incorporation by
				  reference.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.8 - Who Must Register

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except as in this section otherwise provided, the following
					 described admitted insurers are required to register pursuant to Section
					 1215.4 of
					 the Act and these regulations, and to maintain their registration in a current
					 state:
(a) Every admitted domestic
				  insurer which is a member of an insurance holding company system, i.e.,
				  generally one which owns or controls one or more subsidiaries (insurers or
				  not), or is owned or controlled by, or is under common control with, another
				  person; and
(b) Every admitted
				  foreign insurer which is a member of an insurance holding company system and
				  whose domiciliary state does not have statutory or regulatory disclosure
				  requirements and standards substantially similar to those contained in Section
				  1215.4 of the Insurance
				  Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.9 - Special Provisions for Individual Person Affiliates

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An individual person who directly or
				  indirectly owns or exercises voting control or more than ten percent of the
				  voting securities of any member of an insurance holding company system may
				  either:
(1) File a disclaimer in conformity
				  with Insurance Code Section
				  1215.4
				  (i) and these regulations, if in fact such
				  individual person's ownership of securities or exercise of voting power does
				  not in the particular case result in effective control of the other member;
				  or
(2) If such a person's ownership
				  of securities or exercise of voting power does in fact result in control of the
				  other member, such individual may file an abbreviated registration statement as
				  hereinafter provided in this section.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.10 - When to Register

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Every insurer subject to registration pursuant to Insurance
					 Code Section
					 1215.4
					 shall register within 15 days after it becomes subject to these requirements,
					 unless the Commissioner for good cause shown extends the time for
					 registration.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.11 - Where and How to File Registration Statement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Each registration statement and
				  accompanying exhibits filed pursuant to the Act and these regulations may be
				  filed by delivering or mailing a single copy to the Insurance Commissioner of
				  the State of California, Attention of Company Information and Analysis
				  Division, at the Commissioner's office in Oakland, California.
(b) The information supplied shall be current
				  according to the company's (or the individual's, as appropriate) most recent
				  records. Where underwriting information and surplus condition is not reflected
				  in the latest quarterly statement, an accurate interpolation may be used.
				  Indicate figures arrived at by interpolation.)
1. Change
					 without regulatory effect amending subsection (a) filed 8-27-2020 pursuant to
					 section 100, title 1, California Code of
					 Regulations (Register 2020, No. 35).
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.12 - Consolidated Registrations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Two or more affiliated insurers subject to registration
					 under the Act may, unless the Commissioner directs otherwise, file a
					 consolidated registration statement and consolidated supplements or reports
					 amending their consolidated registration or their individual registration
					 statement. In any such case the statement or supplement filed shall clearly
					 identify all constituents or affiliates, and the Commissioner may require a
					 separate statement of the assets and liabilities of each.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.13 - Substituted Registration

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
When two or more admitted insurers of an insurance holding
					 company system are subject to registration under said Act, and one of them is
					 organized under the laws of this State, the domestic insurer may, if a
					 consolidated registration is not made, file its own registration statement and
					 that of any of its affiliates subject to registration
					 hereunder.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.14 - Notification by Foreign Insurer of Registration in Its State of Domicile; Discontinance

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) If the state of domicile of an admitted
				  insurer subject to Section
				  2683.8 (b)
				  applies statutory or regulatory registration and disclosure requirements
				  substantially similar to those of this State, and such insurer files its
				  initial registration statement in accordance with its domiciliary state's
				  requirements, or such registration statement has been filed on its behalf, the
				  insurer shall notify the Commissioner in writing of such fact and of the date
				  such filing was made, by whom, and where. Said communication may contain a
				  statement to the effect that the insurer by virtue of such filing considers
				  itself not subject to California Insurance Code Section
				  1215.4
				  (a).
(b) Whenever any admitted former member of an
				  insurance holding company system ceases to be a member thereof, it shall
				  promptly notify the Commissioner.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.15 - Registration Statements of Nonadmitted Members of a Holding Company System

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In the event the Commissioner requires copies of the
					 registration statements or other information filed by members of a holding
					 company system with their domiciliary insurance regulatory authorities, which
					 members are not prima facie subject to registration under Insurance Code
					 Section
					 1215.4
					 (a), such copies shall be provided and filed
					 by an admitted insurer of the system. Said copies may be conformed copies but
					 shall be certified to by an executive officer of the filing (admitted) insurer
					 as being a full, true and correct copy of the registration statement or other
					 information filed with the aforementioned domiciliary insurance regulatory
					 authority or authorities.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.16 - Annual Supplements and Reporting of Material Changes; Dividends

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Annual
				  supplements to its original registration or a complete new registration
				  statement (as the filing registrant may find more suitable or convenient) shall
				  be filed by or on behalf of each registrant subject to these registration
				  provisions within 120 days after the end of the filing registrant's fiscal
				  year. Such supplement shall report any material changes in the information
				  required to be shown in a registration statement hereunder, which changes are
				  not clearly reflected in the insurer's annual statement filed each March 1st
				  with the Commissioner.
(b) Each
				  registrant shall keep current the information required to be shown in its
				  original registration statement by reporting all material changes or additions.
				  Such amendments, consecutively numbered, shall be filed within 15 days after
				  the end of the calendar month in which the registrant learns of each such
				  material change or addition.
(c)
				  Notwithstanding the foregoing, each registrant shall report on all dividends
				  (including regular dividends) and other distributions to shareholders promptly
				  upon the declaration thereof. (But see Section
				  2683.23 (b),
				  infra.)
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 5 - Stock Insurers-Corporate Affairs › Article 3 - Insurance Holding Company Systems-Reporting and Disclosure Forms › Section 2683.17 - Registration-How and when Terminated

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Ten days after receipt by the Commissioner, absent notice
					 to the contrary, of a written verified statement which may be in letter form,
					 containing satisfactory proof that a registrant is no longer a member of an
					 insurance holding company system, such registrant's registration shall be
					 deemed terminated and it shall no longer be subject to the obligations of
					 registering and keeping current its registration hereunder, unless and until it
					 again becomes subject to registration under said Act.