The offer or sale of securities, including any debt securities, issued pursuant to the plan of conversion developed and approved in accordance with the provisions of this article, shall be exempt from Article 8 (commencing with Section 820) of Chapter 1 of Part 2 of Division 1.
Cal. Ins. Code § 4097.16
Conversion of an Incorporated Medical Malpractice Mutual Insurer into an Incorporated Stock Insurer
Added by Stats. 1998, Ch. 421, Sec. 4
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.