California · Insurance Code
INS §10509.933: 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 individu
Read the full statutory text
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 where the settlement of proceeds payable under a life insurance policy is accomplished by the insurer, or an entity acting on behalf of the insurer, by depositing the proceeds into an account with check or draft writing privileges, and where those proceeds are retained by the insurer, pursuant to a supplemental contract not involving annuity benefits.
Verify at the official source: California legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.