California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 2. CLASSES OF INSURANCE |
Part 2. LIFE AND DISABILITY INSURANCE |
Chapter 10. Fraternal Benefit Societies |
ARTICLE 6. Powers of Commissioner |
Section 11092.
Latest version.
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The commissioner shall act as prescribed in Section 11093 when upon investigation he finds that a domestic society:
(a) Has exceeded its power;
(b) Has failed to comply with any provision of this chapter;
(c) Is not fulfilling its contracts in good faith;
(d) Has a membership of less than 400 after an existence of one year; or
(e) Is transacting business fraudulently or in a manner hazardous to its members, creditors, the public or the business.
(Repealed and added by Stats. 1951, Ch. 1193.)