Section 701 Of Article 3. Certificate Of Authority From California Insurance Code >> Division 1. >> Part 2. >> Chapter 1. >> Article 3.
701
. Subject to the annual fee provisions of Section 705, every
certificate of authority shall be for an indefinite term and shall
expire with the expiration or termination of a corporate existence of
the holder thereof. Notwithstanding the provisions of this section,
whenever the commissioner shall determine, after notice and hearing,
that any insurer to whom such certificate has been issued is in
arrears to the State, or to any county or city in the State, for
fees, licenses, taxes, assessments, fines or penalties, accrued on
business transacted in the State, or is otherwise in default for
failure to comply with any of the laws of this State regarding the
governmental control of such insurer by the State, he may order that
such insurer comply with the said requirements within 30 days of such
determination. If the insurer fails to comply within such period,
the certificate of authority may then be revoked, unless the
commissioner's order is stayed by a court of appropriate
jurisdiction.