Section 1302 Of Article 2. Organization Of Exchange From California Insurance Code >> Division 1. >> Part 2. >> Chapter 3. >> Article 2.

. Any domestic corporation, in addition to the rights, powers and franchises specified in its articles of incorporation, has full power and authority to enter into insurance contracts of the kind and character mentioned in this chapter. The right to enter into such contracts is incidental to the purposes for which such corporations are organized and as fully granted as the rights and powers expressly conferred.