§ 690
51 words·~1 min read·
/ca/insurance-code/690A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If any paid in capital of an insurer is, or is to be, represented by shares of stock, such insurer shall not be organized in this State or admitted to transact any class of insurance in this State, unless all of such shares, authorized or issued, have a specified par value.