Cal. Insurance Code § 839.5

California · California Insurance Code · Status: effective

Cite this

Citation: Cal. Insurance Code § 839.5, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/877620
Permanent ID: ys:prov:877620@1
SHA-256: 5b8cf7701b15639739431afc5a41b62ec8c6d2212b6739423a8e6220eae8b83c

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

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.