Section 1072 Of Article 15. Withdrawal Of Insurers From California Insurance Code >> Division 1. >> Part 2. >> Chapter 1. >> Article 15.
1072
. The commissioner shall make, or cause to be made by the
insurance authority of the State where the insurer is organized, an
examination of the books and records of the insurer. If, upon such
examination, he finds that the insurer has no outstanding liabilities
to residents of this State and no policies in favor of the residents
of this State uncanceled or the primary liabilities under which have
not been reinsured and assumed by another admitted insurer, as
required by Section 1071.5, he shall cancel the insurer's
certificates of authority, if unexpired, and he shall permit the
insurer to withdraw. The commissioner may, in his discretion, waive
any or all of the above requirements if, after such examination, he
finds it to be in a solvent condition. The cost and expense of all
such examinations shall be paid as prescribed in Section 736.