SECTIONS 1561 - California Statutes

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Statutes > California > Ins > 1561

INSURANCE CODE
SECTION 1561




1561.  Any law or ruling of any state of the United States or any
foreign country which shall attempt to assume jurisdiction over, or
to authorize regulation or supervision of, a noninsurance affiliate
of a domestic insurer, where such attempt is based solely upon the
domestic insurer applying for or holding a certificate of authority
to do business in such state or foreign country, whether such attempt
be by registration or through disclosure, reports, examinations, or
other devices imposed on either the insurer or its noninsurance
affiliate, directly or indirectly, shall be deemed to be an
unreasonable law. Upon finding that such unreasonable law has been
applied to a domestic insurer or its noninsurance affiliate by such
state or foreign country, the commissioner may refuse to grant an
initial certificate of authority, but not a renewal of an existing
certificate of authority, to an insurer organized under the laws of
such state or foreign country thereafter applying to him for
authority to do business in this state.
   As used in this section, "affiliate" means a person that, directly
or indirectly, through one or more intermediaries, controls, or is
controlled by, or is under common control with, the domestic insurer.

State Codes and Statutes

Statutes > California > Ins > 1561

INSURANCE CODE
SECTION 1561




1561.  Any law or ruling of any state of the United States or any
foreign country which shall attempt to assume jurisdiction over, or
to authorize regulation or supervision of, a noninsurance affiliate
of a domestic insurer, where such attempt is based solely upon the
domestic insurer applying for or holding a certificate of authority
to do business in such state or foreign country, whether such attempt
be by registration or through disclosure, reports, examinations, or
other devices imposed on either the insurer or its noninsurance
affiliate, directly or indirectly, shall be deemed to be an
unreasonable law. Upon finding that such unreasonable law has been
applied to a domestic insurer or its noninsurance affiliate by such
state or foreign country, the commissioner may refuse to grant an
initial certificate of authority, but not a renewal of an existing
certificate of authority, to an insurer organized under the laws of
such state or foreign country thereafter applying to him for
authority to do business in this state.
   As used in this section, "affiliate" means a person that, directly
or indirectly, through one or more intermediaries, controls, or is
controlled by, or is under common control with, the domestic insurer.

State Codes and Statutes

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State Codes and Statutes

Statutes > California > Ins > 1561

INSURANCE CODE
SECTION 1561




1561.  Any law or ruling of any state of the United States or any
foreign country which shall attempt to assume jurisdiction over, or
to authorize regulation or supervision of, a noninsurance affiliate
of a domestic insurer, where such attempt is based solely upon the
domestic insurer applying for or holding a certificate of authority
to do business in such state or foreign country, whether such attempt
be by registration or through disclosure, reports, examinations, or
other devices imposed on either the insurer or its noninsurance
affiliate, directly or indirectly, shall be deemed to be an
unreasonable law. Upon finding that such unreasonable law has been
applied to a domestic insurer or its noninsurance affiliate by such
state or foreign country, the commissioner may refuse to grant an
initial certificate of authority, but not a renewal of an existing
certificate of authority, to an insurer organized under the laws of
such state or foreign country thereafter applying to him for
authority to do business in this state.
   As used in this section, "affiliate" means a person that, directly
or indirectly, through one or more intermediaries, controls, or is
controlled by, or is under common control with, the domestic insurer.