Court Opinions

State Laws

US Code

US Constitution

California Insurance Code Section 1215

Legal Research Home > California Laws > Insurance Code > California Insurance Code Section 1215

As used in this article, the following terms shall have the
respective meanings hereinafter set forth, unless the context shall
otherwise require:
   (a) An "affiliate" of, or person "affiliated" with, a specific
person, is a person that directly, or indirectly, through one or more
intermediaries, controls, or is controlled by, or is under common
control with, the person specified.
   (b) The term "control" includes the terms "controlling,"
"controlled by," and "under common control with," and means the
possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a person, whether through
the ownership of voting securities, by contract other than a
commercial contract for goods or nonmanagement services, or
otherwise, unless the power is the result of an official position
with or corporate office held by the person. Control shall be
presumed to exist if any person, directly or indirectly, owns,
controls, holds with the power to vote, or holds proxies
representing, more than 10 percent of the voting securities of any
other person. This presumption may be rebutted by a showing that
control does not exist in fact pursuant to the filing of a disclaimer
of affiliation in accordance with subdivision (l) of Section 1215.4.
The commissioner may, after furnishing all persons in interest
notice and opportunity to be heard, determine that control exists in
fact, notwithstanding the absence of a presumption to that effect.
   (c) An "insurance holding company system" consists of two or more
affiliated persons, one or more of which is an insurer.
   (d) "Insurer" shall have the same meaning as set forth in Section
826 of this code, excluding subdivisions (e) and (f) of that section.
   (e) "Person" is an individual, a corporation, a partnership, an
association, a joint stock company, a business trust, an
unincorporated organization, or any similar entity, or any
combination thereof acting in concert.
   (f) A "subsidiary" of a specified person is an affiliate
controlled by that person directly, or indirectly through one or more
intermediaries.
   (g) "Business day" is any day other than Saturday, Sunday, and any
other day that is specified or provided for as a holiday in the
Government Code.

Last modified: February 13, 2012