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§ 2176.1. Effect of False or Misleading Statements.


Barclays Official California Code of Regulations Currentness
Title 10. Investment
Chapter 5. Insurance Commissioner
Subchapter 1. Production of Insurance
Article 4.5. Procedures Governing Persons Subject to Title 18 United States Code Section 1033
10 CCR § 2176.1
§ 2176.1. Effect of False or Misleading Statements.
(a) Any Written Consent granted by the Commissioner shall be conditioned upon the truth and veracity of the documents and information submitted by or on behalf of the Prohibited Person making the Request for Written Consent. In the event that the Department determines that the Prohibited Person receiving the Written Consent, or their representative, has made materially false or misleading statements, or has failed to disclose material information, the Written Consent shall be void ab initio.
(b) If the Department determines that a Prohibited Person has violated the terms of Written Consent in any way, the consent shall terminate immediately.
(c) Knowingly and willfully providing false information to the Department for any purpose constitutes a violation of the Act and is grounds for immediate, summary revocation of any license issued by the Department.
Note: Authority cited: Sections 1723 and 1742.2, Insurance Code. Reference: Sections 1723 and 1742.2, Insurance Code; and 18 U.S.C. §1033.
1. New section filed 3-10-2003; operative 4-9-2003 (Register 2003, No. 11).
This database is current through 7/29/22 Register 2022, No. 30
10 CCR § 2176.1, 10 CA ADC § 2176.1
End of Document