If the law or regulation in the place of domicile of a foreign insurer or the state of entry of a Canadian insurer provides a degree of protection to the policyholders and the public which is substantially equal to that provided by this article, the Commissioner, to the extent deemed appropriate by him in his discretion, may consider compliance with such law or regulation as compliance with this article.
Cal. Code Regs. Tit. 10, § 2534.31
Note: Authority cited: Sections 10506(h) and 10506.3(a), Insurance Code. Reference: Sections 10506(h) and 10506.3(a), Insurance Code.