2009 California Insurance Code - Section 11470-11472 :: Article 4. Powers Of Insurer After Transformation

11470.  The insurer, after such transformation, shall exercise all
the rights and powers and perform all the duties conferred or imposed
by law upon insurers writing the classes of insurance written by it.

11471.  Such insurer shall exercise all the rights and powers and
perform all the duties necessary to protect rights and contracts
existing prior to reorganization.

11472.  The commissioner shall exercise the powers and discharge the
duties, concerning any such insurer, that are applicable to domestic
insurers issuing policies of the same class. He or she shall issue a
certificate of authority to transact the proper classes of insurance
in this state to any such insurer which is solvent as to its reserve
basis policies under Article 13 (commencing with Section 980) of
Chapter 1 of Part 2 of Division 1, and has fully complied with the
laws of this state.