---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-007910"
form_type: "8-K"
ticker: null
cik: "0000100716"
company_name: "UNICO AMERICAN CORP"
filed_at: "2023-06-12T23:59:59+00:00"
generated_at: "2026-06-14T02:36:04.940569+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Unico American's sole unit Crusader placed under California insurance conservatorship; Nasdaq to delist stock June 15

## Summary
- Crusader Insurance Company placed under conservatorship by California Insurance Commissioner on June 7, 2023.
- Court accepted Commissioner's finding that Crusader is in hazardous financial condition; company opposed but order stands.
- Conservator assumed all control of Crusader's assets and operations; Crusader was Unico's only active subsidiary.
- Nasdaq determined Unico is a public shell; trading suspended June 15 and delisting to follow; company will not appeal.
- Stock may become eligible for OTC Pink or Expert Market, but no assurance a market maker will quote the shares.

## SEC filing metadata
- accession: 0001654954-23-007910
- form_type: 8-K
- cik: 0000100716
- company_name: UNICO AMERICAN CORP
- filed_at: 2023-06-12T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.03, 3.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100716/000165495423007910/0001654954-23-007910-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100716/000165495423007910/unam_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-007910
- JSON: https://secwatch.observer/filing/0001654954-23-007910.json
- Plain text: https://secwatch.observer/filing/0001654954-23-007910.txt

## Key facts
- Distress & Bankruptcy
  UNICO AMERICAN CORP entered receivership in Superior Court of California, Los Angeles County, Department 32 (petition 2023-05-31).
  - Proceeding: receivership
  - Court: Superior Court of California, Los Angeles County, Department 32
  - Petition: 2023-05-31
  source text: the Company also announced that it has received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that as a result of filing by the Commissioner of the Verified Petition For Order Appointing the Insurance Commissioner as the Conservator of Crusader on May 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/100716/000165495423007910/0001654954-23-007910-index.htm
- Listing & Compliance Notices
  UNICO AMERICAN CORP received a nasdaq deficiency notice notice regarding other (rules 5101).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Rules: 5101
  source text: May 31, 2023 a Verified Petition For Order Appointing the Insurance Commissioner as the Conservator of Crusader (the “Petition”). As described above, the Order was issued on June 7, 2023. On June 6, 2023, the Company received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that as a result of filing of the Petition by the Commissioner on May 31, 2023, the Nasdaq Staff has determined that the Company no longer has an operating business and that the Company is a “public shell” as that term is defined in Nasdaq Listing Rule 5101. The letter advises that Nasdaq will suspend trading
  evidence_url: https://www.sec.gov/Archives/edgar/data/100716/000165495423007910/0001654954-23-007910-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.