Cal. Code Regs. tit. 10 § 2607.01
Current through Register 2024 Notice Reg. No. 45, November 8, 2024
Various statutory provisions relating to paid-in capital, investments, insolvency and paid-up or unassigned surplus applicable to insurance companies (see especially Section 700.02(b)) render purely promotional securities difficult and impracticable. They were uniformally disapproved pursuant to Section 839. Fair, just, and equitable stock option plans for promoters, officers and employees are presently not regarded with disfavor.
Cal. Code Regs. Tit. 10, § 2607.01