Section 4093 Of Article 9. Merger, Consolidation, Reinsurance, Or Transfer Of Assets And Liabilities From California Insurance Code >> Division 2. >> Part 1. >> Chapter 4. >> Article 9.
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. If the vote is in the affirmative, a certified copy of all
proceedings relating to the proposed transaction shall be filed with
the commissioner. If one of the insurers that is a party to the
transaction is a foreign corporation there shall also be filed with
the commissioner evidence of such approval, consent, or authorization
as may be required by the laws of the state of incorporation of the
foreign insurer. If the commissioner finds that the proceedings have
been in accordance with the law and the commissioner's requirements,
he or she shall issue a certificate approving the plan and agreement
and the transaction shall become effective when the certificate, the
agreement, and any other documents required by law have been filed
with the Secretary of State.
The fee for issuing the certificate approving the transaction
shall be four thousand two hundred fifty dollars ($4,250), payable in
advance with the filing with the commissioner of the first papers
relating to proposed transaction; five dollars ($5) shall be charged
for each signed and sealed or certified copy thereof issued as part
of the same transaction in which the original certificate is issued.