{"data":{"id":"us-ca/ins-823","jurisdiction":"us-ca","citation":"INS § 823","heading":"","body":"(a) A privilege pertaining to a security giving the holder the privilege to convert such security into another security of the same insurer is not a sale of such other security.\n(b) A right pertaining to a security and entitling the holder of such right to subscribe to another security of the same insurer is not a sale of such other security, but the sale of such other security upon the exercise of such right shall be subject to the provisions of this article.","path":["Insurance Code - INS","DIVISION 1. GENERAL RULES GOVERNING INSURANCE [100. - 1879.8.]","PART 2. THE BUSINESS OF INSURANCE [680. - 1879.8.]","CHAPTER 1. General Regulations [680. - 1113.]","ARTICLE 8. Issue of Securities [820. - 860.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"f634d911063d3fce9f0d96a042103c1ac20efa7043bf5eb220a3ef7d588b4104","source_id":"us-ca","stale":false,"prev":"us-ca/ins-822","next":"us-ca/ins-824"},"notice":"GroundRules: Original legal text. Not legal advice."}