Title INS, California Ins. Code

(a) Except as provided in subdivision (b), a licensed life agent may present a proposal for insurance to a prospective policyholder on behalf of a life insurer for which the life agent is not specifically appointed, and may also transmit an application for insurance to that insur…

An insurer, or employing property broker-agent or casualty broker-agent, by filing a notice of appointment on behalf of an applicant for an original license pursuant to Section 1704, and who is not then licensed pursuant to this chapter or Chapter 6 (commencing with Section 1760)…

Except as otherwise provided in Section 1704.5, each notice of appointment or notice of termination of appointment filed pursuant to this article shall be filed on forms prescribed by the commissioner within 15 days of appointment or termination. (Amended by Stats. 2006, Ch. 740,…

The commissioner in lieu of retaining in his or her files a copy of the notices of appointment or notices of termination described in Section 1707, if he or she has made entry of the facts pertaining to the appointments or terminations or the statements, including the cancellatio…

(a) Notwithstanding any other provision of law, qualified applicants who applied in proper form and requested an examination date for a property, casualty, or life insurance license prior to December 1, 1991, shall be provided the opportunity to qualify for licensure under statut…

As part of the report required under Section 12922, the commissioner shall provide the following information for the previous calendar year ending December 31 for five years after the operative date of this section: (a) The total number of applications filed for a property and ca…

The secretary shall prepare an annual statement, showing the condition of such insurer on December thirty-first preceding the annual meeting. He shall present the statement at the annual meeting. (Enacted by Stats. 1935, Ch. 145.)

The president and secretary shall, on or before the first day of March of each year, prepare, under oath, and transmit to the commissioner a statement of the condition of the insurer as of the thirty-first day of December then next preceding. (Amended by Stats. 1941, Ch. 117.)

A licensee may at any time surrender for cancellation any license under which that licensee is permitted to act in any of the capacities specified in this chapter. The licensee may make that surrender by written notice thereof delivered to the commissioner. (Amended by Stats. 202…

All licenses issued to natural persons terminate upon the death of such person. (Repealed and added by Stats. 1959, Ch. 4.)

For the purposes of this chapter and except as provided in this article, an organization ceases to exist as an entity eligible to hold a license: (a) Upon dissolution of a copartnership or upon any change in membership of a copartnership. (b) Upon the termination of an associatio…

The termination of the existence of the license entity as provided in Section 1711, automatically terminates the right of that entity to transact insurance thereunder; except that a natural person, copartnership, association, or corporation licensed under this article, may contin…

(a) The license of an organization licensed as a property broker-agent, casualty broker-agent, or life agent shall become inoperative upon the removal or termination of the last natural person named thereon, pursuant to Section 1656. (b) Unless the license is reactivated by the c…

Any such insurer may be proceeded against and dissolved in the same manner and upon the same conditions as in the case of other domestic incorporated insurers. (Enacted by Stats. 1935, Ch. 145.)

This act shall be known and may be cited as the Life Insurance Proceeds Disclosure Act of 2011. (Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)

The Legislature finds and declares all of the following: (a) The occasion of the death of a spouse, parent, child, partner, or other loved one is a difficult time, accompanied by severe emotional stress, and is frequently a time of important and often difficult financial decision…

The purpose of this act is to establish disclosure standards regarding the payment of life insurance benefits to a beneficiary by means of a retained asset account if a life insurance company offers consumers a retained asset account or establishes such an account as an alternati…

For the purposes of this article, the following terms have the following definitions: (a) “Insurer” means an insurance company that delivers or issues for delivery in this state any policy of individual or group life insurance. (b) “Retained asset account” means any mechanism whe…

The insurer shall provide the beneficiary of life insurance proceeds, at the time a claim is made, written information describing the settlement options available under the policy and any other option available to the beneficiary for the receipt of proceeds, including retained as…

If the insurer settles life insurance benefits through a retained asset account, the insurer shall provide the beneficiary with a supplemental contract that clearly discloses the rights of the beneficiary and the obligations of the insurer under the supplemental contract. (Added …

If the life insurance benefits are placed in a retained asset account, the insurer shall send the beneficiary at least one statement per quarter, and a statement for any month in which there has been account activity other than just the crediting of interest. (Added by Stats. 201…

The insurer shall provide the following written disclosures to the beneficiary before the retained asset account is established, unless the insurer has already provided these disclosures pursuant to Section 10509.934: (a) Payment of the full benefit is accomplished by delivery of…

An insurer that fails to conform to the requirements provided under this article shall be subject to Article 6.5 (commencing with Section 790) of Chapter 1 of Part 2 of Division 1. (Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)

The provisions of this article shall not apply to any certificate of convenience other than a military service certificate of convenience issued to a natural person. (Added by Stats. 1959, Ch. 4.)

All licenses issued under this chapter shall be for the license term specified in Section 1630. Such licenses may be issued for all of such term, or, upon application made during any such term, for the balance thereof. Such license term shall commence as specified in Section 1630…

Notwithstanding any other provision of this article, the commissioner shall institute year-round licensing of production agency licensees commencing with those license renewals taking place in 1986. (Amended by Stats. 1985, Ch. 770, Sec. 8.9.)

(a) Not less than 60 days before a permanent license will expire, the commissioner may use an electronic delivery method, including email or other similar electronic method of delivery, to deliver, or may mail, to the latest email or mailing address appearing on the commissioner’…

The commissioner shall not issue any permanent license within 30 days prior to the expiration date on record for a previously licensed entity unless the person shall have also filed an application for renewal of the license for that license year or term directly following the exp…

(a) A licensee who has applied to renew a license under this chapter shall be entitled to continue operating under the existing license for 60 days after its specified expiration date, or until notified by the department that the renewal application is deficient, whichever comes …

If a natural person while licensed pursuant to the provisions of this chapter or Chapter 6 (commencing with Section 1760), Chapter 7 (commencing with Section 1800), or Chapter 8 (commencing with Section 1831) of this part, Part 5 (commencing with Section 12140) of Division 2, or …

(a) At the time any original or renewal license application that is submitted to the commissioner shows a conviction of the applicant of a felony involving dishonesty or breach of trust, or of a violation of Section 1033 of Title 18 of the United States Code, the commissioner sha…

The provisions of subdivision (f) of Section 381 and the provisions of Sections 382, 383, 384, 750, 751, 752, 753, 754, 755, 756, 757, 758, 759, 761, 762, 763, 764, 765, 766, 800, 801, 802, 803, 804, 805, 806, 807, 808, 809, 980, 981, 982, 983, 984, 985, 986, 987, 988, 989, 990, …

This act shall be known and may be cited as the Unclaimed Life Insurance and Annuities Act. (Added by Stats. 2019, Ch. 286, Sec. 1. (SB 740) Effective January 1, 2020.)

The purpose of this article is to provide standards for: (a) Identifying a deceased individual whose death may require an insurer to pay benefits or proceeds to beneficiaries in accordance with the terms of a life insurance policy, annuity contract, or retained asset account. (b)…

For purposes of this article: (a) “Annuity contract” does not include an annuity used to fund an employment-based retirement plan or program if either of the following applies: (1) The insurer does not perform the recordkeeping services. (2) The insurer is not committed by the te…

(a) This article applies to an in-force policy, annuity contract, or retained asset account, a policy or annuity contract effective on or after July 1, 2020, and a policy that has lapsed on or after January 1, 2019, if the insurer has not engaged in asymmetric conduct. (b) This a…

(a) An insurer shall comply with the following requirements for performing a comparison of a policy, annuity contract, or retained asset account against the Death Master File: (1) An insurer that has engaged in asymmetric conduct shall compare all in-force policies, annuity contr…

(a) Failure to meet a requirement of this article knowingly or with such frequency as to constitute a general practice is an unfair and deceptive act pursuant to Section 790.03. (b) This article does not create or imply a private right of action for a violation of this article. (…

The provisions of this article are severable. If any provision of this article or its application is held invalid, that invalidity shall not affect other provisions or applications that can be given effect without the invalid provision or application. (Added by Stats. 2019, Ch. 2…

An agent, broker, or solicitor who is not an active member of the State Bar of California may not share a commission or other compensation with an active member of the State Bar of California. For purposes of this section, “commission or other compensation” means pecuniary or non…

Every individual and organization licensee and every applicant for a license shall file with the commissioner in writing the true name of the individual or organization and also all fictitious names under which an individual or organization conducts or intends to conduct business…

A license to act as a resident property broker-agent, casualty broker-agent, personal lines broker-agent, and limited lines automobile insurance agent shall be prominently displayed by the holder thereof in the license holder’s office in a manner whereby anyone may readily inspec…

(a) A person licensed under Section 1625, 1625.5, 1625.55, 1626, 1758.1, 1765, 1800, 14020, or 15006, or Chapter 8 (commencing with Section 1831), shall affix, type, or print on business cards, written price quotations for insurance products, and print advertisements distributed …

(a) A person who is licensed in this state as an insurance agent or broker, advertises insurance on the internet, and transacts insurance in this state, shall identify all of the following information in the same size type on the person’s internet website home page or in a promin…

(a) The commissioner shall, after notice and hearing, promulgate reasonable rules and regulations specifying the manner and type of records to be maintained by those licensees acting as insurance agents and brokers and the location where the records shall be kept. Those records s…

Every resident insurance property broker-agent and every resident insurance casualty broker-agent shall maintain a principal office in this state for the transaction of business. The address of the office shall, pursuant to Section 1658, be specified on all applications for licen…