Cal. Code Regs. tit. 10 § 2682.22

Current through Register 2024 Notice Reg. No. 49, December 6, 2024

Section 2682.22 - Arbitrage Transactions Under Section 2682.7

It shall be unlawful for any director or officer of an insurer to effect any foreign or domestic arbitrage transaction in any equity security of such insurer, unless that director or officer of an insurer shall include such transaction in the statements required by Section 1104.2 and shall account to such insurer for the profits arising from such transaction, as provided in Section 1104.3. The provisions of Section 1104.4 shall not apply to such arbitrage transactions. The provisions of Section 1104.2 to 1104.8 shall not apply to any bona fide foreign or domestic arbitrage transaction insofar as it is effected by any person other than such director or officer of the insurer.

Cal. Code Regs. Tit. 10, § 2682.22

1. Change without regulatory effect amending section filed 7-14-2021 pursuant to section 100, title 1, California Code of Regulations (Register 2021, No. 29). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20.

1. Change without regulatory effect amending section filed 7-14-2021 pursuant to section 100, title 1, California Code of Regulations (Register 2021, No. 29). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20.