Cal. Codes » Insurance Code / DIVISION 1. GENERAL RULES GOVERNING INSURANCE / PART 2. THE BUSINESS OF INSURANCE / CHAPTER 1. General Regulations / ARTICLE 3. Certificate of Authority
California Codes

Cal. Insurance Code § 704.5 (2026)

Certificate of Authority

✓ current as of May 2026
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The commissioner may decline to grant or may suspend or revoke a certificate of authority of any holder of such certificate authorized to be certificated under this code if any person or persons, directly or indirectly, or any person who as an affiliate or part of any affiliate, directly or indirectly, owning or controlling, in the aggregate, any interest in more than 10 percent of the stock of such holder of the certificate, or its subsidiary, or any company or entity controlling such holder, or if any officer or director of such holder has been convicted on, or pleaded guilty or nolo contendere to, an indictment or information in any jurisdiction charging a felony for theft or larceny, mail fraud, or violation of any corporate securities statute or any insurance statute.

Notes of Decisions
Cited in 2 cases, 1976–1985 · leading case: Cartwright v. Bd. of Chiropractic Examiners, 548 P.2d 1134 (Cal. 1976).
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Cartwright v. Bd. of Chiropractic Examiners, 548 P.2d 1134 (Cal. 1976). “In support of this position the commissioner alleged that the officers had been convicted of a federal felony of conspiracy to defraud the United States government upon their pleas of nolo contendere.”
People v. Davis, 166 Cal. App. 3d 760 (Cal. Ct. App. 1985). “(a); Ins. Code, § 704.5; Evid. Code, § 788, subd.”
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