California Code
ARTICLE 17 - Conversion of Certain Reciprocal Insurers to Incorporated Stock Insurers
Section 1560.15.

1560.15. The offer or sale of securities issued pursuant to the plan of conversion developed and approved in accordance with the provisions of this article, shall be exempt from Article 8 (commencing with Section 820) of Chapter 1.

(Added by Stats. 1998, Ch. 421, Sec. 2. Effective January 1, 1999.)