Insurance Code section 843
(a)
It has, prior to filing the application, made a filing with the Securities and Exchange Commission;(b)
It (or a predecessor) has been lawfully engaged in the insurance business for at least five years and currently is admitted to transact insurance in at least five states;(c)
It currently has admitted assets of at least five million dollars ($5,000,000); and(d)
It has, prior to filing the application, obtained a written permit or consent to issue such securities from the authority in its domiciliary state having jurisdiction over issuances of its securities and the statutory standards for obtaining such permit or consent are comparable to the like standards of this state.
Source:
Section 843, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=843.
(accessed Apr. 24, 2025).