Ins. Code, § 839 · Article 8. Issue of Securities
Ins. Code, § 839
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The commissioner shall issue a permit if he finds that:
(a) The proposed plan of business of the applicant and the proposed issuance of securities are fair, just, and equitable.
(b) The applicant intends fairly and honestly to transact its business, and
(c) The securities the applicant proposes to issue and the methods to be used by it in issuing or disposing of them are such as, in his opinion, will not work a fraud upon the purchaser thereof, or upon policyholders or other security holders of applicant.
Otherwise, he shall deny the application and notify the applicant in writing of his decision.
Notes and commentary — not statutory text
History
Amended by Stats. 1965, Ch. 1568.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=839.
- Text hash
- sha256 9c17accc9b55c6c8084a2feff1af5e9f9335beed999f5bf85b389bedd6048830
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.