Insurance Code section 832

Every insurer that commits any of the following acts is guilty of a public offense and punishable by fine not exceeding ten thousand dollars:

(a)

Selling or causing to be issued a security contrary to the provisions of this article or not in conformity with the permit of the commissioner.

(b)

Applying any of the proceeds of sale of a security to any purpose other than as specified in the permit, or to a purpose specified in the permit, but in excess of the amount limited for that purpose.

Source: Section 832, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=INS§ionNum=832.­ (accessed Apr. 24, 2025).

Last Updated

Apr. 24, 2025

§ 832’s source at ca​.gov