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Code · California · Insurance Code

§ 7049

97 words·~1 min read·/ca/insurance-code/7049

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After the policyholders have elected such a transformation a county mutual insurer shall submit to the insurance commissioner for final approval of the transformation a certified copy of all proceedings together with an application for a new certificate of authority accompanied by the necessary filing fee. The said transformation shall become effective upon the occurrence of the last of the three following events:
(1)the final approval by the insurance commissioner,
(2)the issuance of a new certificate of authority, and
(3)the filing of certified copies of amended articles of incorporation with the Secretary of State.
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