Cal. Insurance Code § 823
Cal. Insurance Code § 823
California · California Insurance Code · Status: effective
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- Citation
- Cal. Insurance Code § 823, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/877595
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Full text
(a) A privilege pertaining to a security giving the holder the privilege to convert such security into another security of the same insurer is not a sale of such other security.
(b) A right pertaining to a security and entitling the holder of such right to subscribe to another security of the same insurer is not a sale of such other security, but the sale of such other security upon the exercise of such right shall be subject to the provisions of this article.