Commissioner of corporations announces public hearings concerning Blue Cross public benefit plan; Bear, Stearns engaged as the department's investment adviser.LOS ANGELES--(BUSINESS WIRE)--Nov. 22, 1994--The Department of Corporations Tuesday announced that it would hold two public hearings as part of the department's review of the public benefit plan that Blue Cross of California (BCC (Blind Carbon Copy) The field in an e-mail header that names additional recipients for the message. It is similar to carbon copy (cc), but the names do not appear in the recipient's message. Not all e-mail systems support the bcc feature. See fcc. ) filed with the department on Sept. 15. The first public hearing will be held on Dec. 8 in the San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden State Building Auditorium, 455 Golden Gate Ave., Room 1194, and the second hearing will be held on Dec. 9 in the fifth-floor conference room of the department's Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. office, 3700 Wilshire Blvd. Each hearing will be scheduled to run from 9:30 a.m. to 4:45 p.m., with a 30-minute lunch break at 12:15 p.m. The department has asked that any person or organization wishing to testify To provide evidence as a witness, subject to an oath or affirmation, in order to establish a particular fact or set of facts. Court rules require witnesses to testify about the facts they know that are relevant to the determination of the outcome of the case. at either of these hearings notify the department of this interest in writing by Dec. 5. In making this announcement, Commissioner Gary S. Mendoza said, ``The department understands that our client, the people of the state of California, has a significant stake in the structure and terms of the public benefit plan that Blue Cross of California has submitted, and the department believes it is appropriate to solicit additional public input concerning this submission through these public hearings.'' The commissioner also reported that more than 180 written submissions had been received by the department during the formal public comment period that ended on Oct. 31 and that each of these submissions has been or will be reviewed and considered by the department during its deliberations. The Sept. 15 filing was made by BCC following the Department of Corporations' requests that BCC develop and implement a plan to use all of its assets as a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. public benefit corporation for the benefit of the people of California. In light of strong public interest in the matter, the department felt it appropriate to schedule a formal public comment period as part of the department's preliminary review of the BCC submission. The department also announced that the investment-banking firm of Bear, Stearns & Co. Inc. has been engaged to assist the department in its evaluation of the financial aspects of BCC's proposal. Mendoza stated: ``The department intends to continue to move carefully and deliberatively de·lib·er·a·tive adj. 1. Assembled or organized for deliberation or debate: a deliberative legislature. 2. Characterized by or for use in deliberation or debate. in its review of the information that BCC has provided. The public input that we are seeking is an important part of these deliberations.'' The California Department of Corporations is a regulatory and licensing agency that reports to the state Business, Transportation and Housing Agency, and to Gov. Pete Wilson For others named Pete Wilson, see . Peter Barton Wilson (born August 23, 1933) is an American Republican politician from California. Wilson served as the thirty-sixth Governor of California (1991–1999), the culmination of more than three decades in the public arena that . CONTACT: State of California Department of Corporations Albert Draper Albert Earl Draper (born December 13, 1897 in St. Mary's, Ontario; died November 3, 1963) was a politician in Manitoba, Canada. He served in the Legislative Assembly of Manitoba as a Progressive Conservative from 1955 to 1958. , 213/736-3481 |
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