Cal. Code Regs. Tit. 16, § 2326.2 - Limited Liability Company Certification of Insurance Coverage or Net Worth

A limited liability company licensed as a certificate of authority shall submit annually, within four months of the completion of the fiscal year, one of the following to the bureau:

(a) Bureau form 23-INS (1/16), Certification of Insurance Coverage, which is hereby incorporated by reference, certifying the limited liability company has a policy or policies of insurance for claims against it based upon acts, errors, or omissions of its licensed employees accompanied by a certificate of insurance or proof of adequate security.

(b) Bureau form 23-NW (1/16), Certification of Net Worth, which is hereby incorporated by reference, certifying that as of the last day of its most recently completed fiscal year, the limited liability company has a net worth equal to or exceeding ten million dollars ($10,000,000).

Notes

Cal. Code Regs. Tit. 16, § 2326.2

1. New section filed 5-3-2016; operative 7-1-2016 (Register 2016, No. 19). For prior history, see Register 85, No. 26.

Note: Authority cited: Section 7606, Business and Professions Code. Reference: Section 7613.4, Business and Professions Code; and Section 16956, Corporations Code.

1. New section filed 5-3-2016; operative 7/1/2016 (Register 2016, No. 19). For prior history, see Register 85, No. 26.