California

Insurance Code

4,514 sections, each with the official text and a plain-English explanation of what it means for you.

• § 10965.03 — (a) It is the intent of the Legislature to encourage self-funded student health coverage offered by the University of California Student Health Insurance Plan and the University of California Voluntar
• § 10965.1 — Except as provided in Section 10965.
• § 10965.11 — (a) A health insurer shall not be required to offer an individual health benefit plan or accept applications for the plan pursuant to Section 10965.
• § 10965.13 — (a) A health insurer that receives an application for an individual health benefit plan outside the Exchange during the initial open enrollment period, an annual enrollment period, or a special enroll
• § 10965.15 — (a) On or before October 1, 2013, and annually every October 1 thereafter, a health insurer shall issue the following notice to all policyholders enrolled in an individual health benefit plan that is
• § 10965.16 — Except as otherwise provided in this chapter, this chapter shall be implemented to the extent that it meets or exceeds the requirements set forth in PPACA.
• § 10965.17 — (a) The commissioner may, no later than December 31, 2014, adopt emergency regulations implementing this chapter.
• § 10965.18 — (a) For purposes of this chapter, a bridge plan product shall mean an individual health benefit plan that is offered by a health insurer licensed under this part that contracts with the Exchange pursu
• § 10965.3 — (a) (1) On and after October 1, 2013, a health insurer shall fairly and affirmatively offer, market, and sell all of the insurer’s health benefit plans that are sold in the individual market for polic
• § 10965.4 — (a) Notwithstanding paragraph (1) of subdivision (c) of Section 10965.
• § 10965.5 — (a) Commencing on October 1, 2013, a health insurer or agent or broker shall not, directly or indirectly, engage in the following activities: (1) Encourage or direct an individual to refrain from fili
• § 10965.7 — (a) An individual health benefit plan shall be renewable at the option of the insured except as permitted to be canceled, rescinded, or not renewed pursuant to Section 155.
• § 10965.9 — (a) With respect to individual health benefit plans issued, amended, or renewed on or after January 1, 2014, a health insurer may use only the following characteristics of an individual, and any depen
• § 10970 — Fraternal benefit societies shall be governed by this chapter and shall be exempt from all other provisions of this code, except: (a) Those provisions prior to Division 1 entitled “General Provisions.
• § 10971 — This chapter shall not, except as provided by Sections 10972 and 10974, affect: (a) A lodge operating under the lodge system, which provides in its bylaws or rules or regulations for the payment of de
• § 10972 — (1) A lodge operating under the lodge system, as this term is used in Section 10971, shall have all of the following characteristics: (a) It is organized without capital stock.
• § 10973 — The commissioner may require from any society such information as will enable him to determine whether or not such society is exempt from the provisions of this chapter.
• § 10974 — A lodge, subordinate branch thereof or association formed by the members thereof which is exempted from the requirements of this chapter by Section 10971 shall not give or allow, nor promise to give o
• § 10975 — Any fraternal benefit society organized and operating within the definition set forth in Sections 10990 to 10992 on July 29, 1911, providing benefits in case of death or disability resulting solely fr
• § 10976 — Any incorporated fraternal benefit society engaged on July 29, 1911, in transacting business in this State may exercise all of the rights conferred by this chapter, and all of the rights, powers and p
• § 10990 — Any incorporated society, order or supreme lodge, without capital stock, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with rit
• § 10991 — A society having a supreme legislative or governing body and subordinate lodges or branches by whatever name known, into which members are elected, initiated, or admitted in accordance with its consti
• § 10992 — A society shall be deemed to have a representative form of government when: (a) It provides in its constitution or laws for a supreme legislative or governing body, composed of representatives elected
• § 10993 — Every fraternal benefit society organized or admitted under this chapter is hereby declared to be a charitable and benevolent institution, and all of its funds shall be exempt from all and every state
• § 11 — The present tense includes the past and future tenses; and the future, the present.
• § 110 — Common carrier liability insurance includes insurance against loss resulting from liability of a common carrier for accident or injury, fatal or nonfatal, to any person but does not include liability
• § 1100 — In this state, all investments and deposits of the assets of an insurer, all purchases on behalf of an insurer, and all sales made of the property and effects of an insurer shall be made in its own na
• § 1100.1 — Every admitted incorporated insurer may under a certificate of authority issued pursuant to the provisions of Article 3 (commencing with Section 699), engage in this state in the type of loan transact
• § 1101 — (a) An admitted insurer’s officers, directors, trustees, and any persons who have authority in the management of the insurer’s funds, shall not, unless otherwise provided in this code: (1) Receive any
• § 1101.1 — An officer, excluding a director who holds no other office, or employee of an admitted insurer shall not receive any money or valuable thing directly or indirectly as a brokerage commission on reinsur
• § 11010 — Seven or more United States citizens, a majority of whom are citizens of this state, who desire to form a fraternal benefit society, may make, sign, and acknowledge articles of incorporation before an
• § 11011 — The articles of incorporation, duly certified copies of the constitution, laws and rules, copies of all proposed forms of certificates, applications therefor, and circulars to be issued by the society
• § 11012 — No such preliminary certificate shall be valid after one year from its date, or after such further period, not exceeding one year, as may be authorized by the commissioner, upon cause shown, unless th
• § 11013 — Upon receipt of a preliminary certificate from the commissioner, the society may solicit members for the purpose of completing its organization, shall collect from each applicant the amount of not les
• § 11014 — The commissioner may make such examination and require such further information as he deems advisable.
• § 11015 — Every such society shall have the power to make a constitution and by-laws for the government of the society, the admission of its members, the management of its affairs, and the fixing and readjustin
• § 11016 — A society shall operate for the benefit of its members and their beneficiaries by: (a) Providing benefits under Section 11041, and (b) Operating for one or more social, intellectual, educational, char
• § 11017 — After September 21, 1952, no unincorporated or voluntary association shall be permitted to transact business in this State as a fraternal benefit society under this chapter.
• § 11018 — Any domestic society may provide that the meetings of its legislative or governing body may be held in any state, district, province or territory wherein such society has at least five subordinate bra
• § 11019 — A domestic society shall not consolidate or merge with any other society unless it files with the commissioner the papers and evidence specified in this section and pays the sum of three hundred eight
• § 1102 — The financial obligation of any officer, director, trustee, or other person having authority in the management of an insurer’s funds shall not be guaranteed by such insurer in any capacity, and any su
• § 11020 — If the commissioner finds that such contract is in conformity with the provisions of this chapter, that the financial statements are correct, that under it the interests of the certificate holders of
• § 11021 — Upon the consolidation or merger becoming effective, all the rights, franchises and interests of the consolidated or merged societies in and to every species of property, real, personal or mixed, and
• § 11022 — The affidavit of any officer of the society or of any one authorized by it to mail any notice or document, stating facts which show that same has been duly addressed and mailed, shall be prima facie e
• § 11023 — A society may admit to benefit membership any person not less than 15 years of age at nearest birthday who has been examined by a legally qualified physician, and whose examination has been supervised
• § 11024 — Any person admitted to benefit membership in such society prior to attaining the full age of 21 years shall be bound by the terms of the application and certificate and by all the laws and rules of th
• § 11025 — A society may accept general or social members who shall have no voice or vote in the management of its insurance affairs.
• § 11026 — A domestic society may amend its articles of incorporation, constitution, or laws, in accordance with the provisions thereof, by action of its supreme legislative or governing body at any regular or s
• § 11027 — No amendment to the articles of incorporation, constitution or laws of any domestic society shall take effect unless approved by the commissioner who shall approve such amendment if he finds that it h
• § 11028 — Within 90 days from the approval thereof by the commissioner, all such amendments, or a synopsis thereof, shall be furnished to all members of the society either by being published in the official org
• § 11029 — Every foreign society transacting business under this chapter shall file with the commissioner a duly certified copy of all amendments of, or additions to, its constitution and laws within 90 days aft
• § 1103 — Whenever an insurer is injured or made to suffer loss by reason of any violation of the provisions of sections 1101, 1102 or 1104, such insurer may recover from the guilty officer, director, trustee o
• § 11030 — Printed copies of the constitution or laws of any domestic or foreign society as amended, certified by the secretary or corresponding officer of the society shall be prima facie evidence of the legal
• § 11031 — A society may create, maintain and operate hospitals, asylums, homes, sanitariums or other charitable or benevolent institutions for the benefit of its sick, disabled, aged or distressed members and t
• § 11032 — Maintenance, treatment and proper attendance in any such institution may be furnished free or a reasonable charge may be made therefor, but no such institution shall be operated for profit.
• § 11033 — A society maintaining special funds of the nature set forth in Section 11122 may make payments from such funds to its members compatible with the type thereof; provided that, if such payments are of s
• § 1104 — An admitted insurer shall not make any loan, other than a policy loan, to any officer, director, trustee or other person having authority in the management of its funds, nor shall such officer, direct
• § 1104.1 — The commissioner may from time to time require any domestic admitted insurer to report to him, in such detail as he may prescribe, the moneys and securities owned by it, the place where such moneys an
• § 1104.2 — Every person who is directly or indirectly the beneficial owner of more than 10 percent of any class of stock of a domestic insurer or who is a director or officer of such insurer shall file in the of
• § 1104.3 — For the purpose of preventing the unfair use of information which may have been obtained by any beneficial owner of an insurer, or director or officer thereof, described in Section 1104.
• § 1104.4 — It shall be unlawful for any beneficial owner of an insurer, or director or officer thereof, described in Section 1104.
• § 1104.5 — The provisions of Section 1104.
• § 1104.6 — The provisions of Sections 1104.
• § 1104.7 — The term “stock” as it is used in Sections 1104.
• § 1104.8 — The provisions of Sections 1104.
• § 1104.9 — (a) (1) As used in this section, “qualified custodian” means: (A) commercial banks (as defined in Section 105 of the Financial Code), savings and loan associations (as defined in Section 5102 of the F
• § 11040 — All benefits provided for in the laws and agreements of a society shall be payable only out of its funds in accordance with its laws.
• § 11041 — An admitted society may, by the issuance of certificates, provide for payment to its members of insurance benefits contained within the following classes: (a) All forms of life insurance, as defined i
• § 11042 — A society may provide for benefits on the lives of children under 21 years of age and under the minimum age for adult membership under the laws of the society at time of application therefor, upon the
• § 11043 — A society may grant nonforfeiture benefits, cash surrender values, certificate loans, and other options as its laws may permit.
• § 11044 — No beneficiary shall have or obtain any vested interest in the proceeds of any certificate until the certificate has become due and payable in conformity with the provisions of the insurance contract.
• § 1105 — This article shall not prevent: (a) The purchase by any person of any asset which the commissioner requires to be sold, at a price approved by the commissioner.
• § 1106 — Any person violating, or wilfully aiding another in the violation of, Sections 1101, 1101.
• § 11060 — Every society authorized to do business in this State shall issue to each benefit member a certificate specifying the amount of benefits provided thereby.
• § 11061 — All statements purporting to be made by the member shall, in the absence of fraud, be representations and not warranties.
• § 11062 — Any changes, additions or amendments to the charter or articles of incorporation, constitution or laws duly made or enacted subsequent to the issuance of the certificate, shall bind the member and the
• § 11063 — Copies of any of the documents mentioned in Sections 11060 and 11062, certified by the secretary or corresponding officer of the society, shall be received in evidence of the terms and conditions ther
• § 11064 — A society shall provide specifically in its certificates that if its reserves become impaired, its board of directors or corresponding body may require that the owner pay to the society the amount of
• § 11065 — Every society authorized to do business in this State shall provide in its constitution or laws that additional payments or contributions shall be required of members by the action of the board of dir
• § 11066 — After the effective date of the amendments to this section made during the 1995–96 Regular Session of the Legislature, no life insurance benefit certificate may be delivered or issued for delivery in
• § 11067 — After September 21, 1952, no life insurance benefit certificate shall be delivered or issued for delivery in this State containing in substance any of the following provisions: (a) Any provision limit
• § 11068 — After September 21, 1954, no life insurance benefit certificate shall be delivered or issued for delivery in this State containing in substance any provision limiting the time within which any action
• § 11069 — No domestic, foreign or alien society authorized to do business in this State shall issue or deliver in this State any certificate or other evidence of any contract for temporary or permanent disabili
• § 1107 — In accordance with either subdivision (e) of Section 1001 or Section 1101.
• § 1107.1 — The commissioner shall require the payment of three hundred seventy-four dollars ($374), as fee for the determination referred to in Section 1107.
• § 11070 — After September 21, 1954, no action at law or in equity shall be had or maintained on any certificate or contract issued by a society unless commenced within two years after the cause of action shall
• § 11071 — The constitution and laws of the society may provide that no subordinate body, nor any of its subordinate officers or members shall have the power or authority to waive any of the provisions of the la
• § 11072 — A domestic society may, by a reinsurance agreement, cede any individual risk or risks in whole or in part to an insurer having the power to make such reinsurance and authorized to do business in this
• § 11073 — If the contract of a society entered into, amended, or renewed in this state on or after the effective date of this section provides in any manner for coverage for an employee and a covered spouse dep
• § 11090 — Subject to the annual fee provisions as provided herein, every certificate of authority issued to a fraternal benefit society shall be for an indefinite term and shall expire with the expiration or te
• § 11091 — No foreign or alien society shall transact business in this State without a certificate of authority issued by the commissioner.
• § 11092 — The commissioner shall act as prescribed in Section 11093 when upon investigation he finds that a domestic society: (a) Has exceeded its power; (b) Has failed to comply with any provision of this chap
• § 11093 — (a) If the commissioner finds that any of the conditions set forth in Section 11092 exist in respect to a domestic society, he or she shall, in an order to show cause, notify the society of his or her
• § 11094 — If the court orders the society enjoined, the commissioner shall suspend its certificate of authority.
• § 11095 — If the court orders the society liquidated, it shall be enjoined from carrying on any further business, whereupon the receiver of the society shall proceed at once to take possession of the books, pap
• § 11096 — The provisions of Sections 11093 to 11095 relating to hearing by the commissioner, action by the Attorney General at the request of the commissioner, hearing by the court, injunction and receivership
• § 11097 — The commissioner shall act as prescribed in Section 11098 when upon investigation he finds that a foreign or alien society transacting or applying to transact business in this State: (a) Has exceeded
• § 11098 — If the commissioner finds that any of the conditions set forth in Section 11097 exist in respect to a foreign or alien society, he shall, in an order to show cause, notify the society of his findings
• § 11099 — Article 14 (commencing with Section 1010) of Chapter 1 of Part 2 of Division 1 applies to any society, except as otherwise provided in this chapter.
• § 111 — Boiler and machinery insurance includes insurance against loss of property and liability for damage to persons or property from explosion of, or accident to, boilers, tanks, pipes, pressure vessels, e
• § 1110 — This article does not apply to combination automobile insurance policies in which one insurer issues a policy covering certain classes of insurance on a risk, and another insurer covers certain other
• § 11100 — Every society operating under the provisions of this chapter and issuing a policy or certificate of insurance may appoint agents to represent it.
• § 11101 — Except as otherwise provided in Sections 11102 and 11103, such agents and such societies are subject to Chapter 5 (commencing with Section 1621) of Part 2 of Division 1 and those agents shall be licen
• § 11102 — Chapter 5 (commencing with Section 1621) of Part 2 of Division 1 does not apply to any of the following, nor shall any of the following be required to be licensed as life agents: (a) Any officer of a
• § 11103 — (a) The examination requirements of Article 7 (commencing with Section 1675) of Chapter 5 of Part 2 of Division 1 shall not apply to a license to represent a fraternal benefit society if the individua
• § 11104 — Every society authorized to do business in this State shall appoint in writing the commissioner and each successor in office to be its true and lawful attorney upon whom all lawful process in any acti
• § 11105 — Service may be made as provided in Article 1 (commencing with Section 12919) of Chapter 2 of Division 3.
• § 11106 — An application for injunction against, proceedings for the dissolution of, or the appointment of a receiver for, any domestic society or branch thereof shall not be entertained by any court unless mad
• § 11107 — A fraternal benefit society, its members, employees, agents, delegates, directors, and officers by whatever name known are subject to Section 12924.
• § 11108 — Any domestic society may be converted into and receive a certificate of authority as a mutual life insurance company by compliance with all of the requirements of the laws of this State pertaining to
• § 11109 — On such conversion: (a) Except as provided in (b) hereof all funds, assets and liabilities of any nature which theretofore were the funds, assets or liabilities of such society shall become the funds,
• § 1111 — Insurers desiring to issue policies to which this article is applicable, and to pay commissions to persons who are licensed as insurance agents, but not as agents for all insurers participating in the
• § 11110 — In addition to any other ground for disapproving such conversion, the commissioner may refuse to give such approval unless evidence satisfactory to him is submitted that: (a) The reserves on all certi
• § 11111 — Any society may comply with subsection (a) of Section 11110 by deducting from its surplus an amount which, when added to the reserves on certificates theretofore issued, shall be sufficient to carry s
• § 11112 — All decisions and findings of the commissioner made under the provisions of this chapter shall be subject to review by proper proceedings in any court of competent jurisdiction in this State.
• § 1112 — Within 10 days after the withdrawal of an insurer from the plan or from the time additional insurers participate in the plan, notice of the change shall be given the commissioner in writing, and unles
• § 11120 — When a society, or a class or section thereof, has assets equal to the reserves and credits on its policies, it may collect periodical or other contributions from the members of the society, class or
• § 11121 — Unless it operates under Section 11120, a society, or class or section thereof, shall collect from its members both stated contributions expressly segregated for the mortuary or disability funds and s
• § 11122 — Any society may create, maintain, invest, disburse and apply any special fund or funds necessary to carry out any purpose permitted by the laws of the society.
• § 11122.1 — A society may, if authorized by a resolution of its supreme legislative or governing body, establish and operate one or more separate accounts and issue contracts on a variable basis to persons as spe
• § 11123 — Any such society may own real estate and buildings within or without the state of its incorporation, for any purposes for which it may use funds.
• § 11124 — Unless otherwise provided in the contracts of the members, such funds shall be held, invested, and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire
• § 11125 — Every domestic society shall invest its funds only in securities permitted by the laws of this State for the investment of the assets of life insurers issuing nonassessable policies on a reserve basis
• § 11126 — An admitted foreign society shall invest its funds either under the same restrictions as domestic societies or in accordance with the laws of the state in which it is incorporated.
• § 11127 — An admitted foreign society organized under the laws of any jurisdiction other than a state of the United States shall at all times maintain with a trustee in the United States, in trust for the benef
• § 11128 — The value of the trusteed assets referred to in Section 11127 shall be equal to the sum of all of the following: (a) All of the indebtedness of that society in the United States having a fixed maturit
• § 11129 — The provisions of Sections 1596 to 1598, inclusive, shall apply to such society specified in Section 11127 and to the matters set forth in Sections 11127 and 11128.
• § 1113 — For filing application for a permit issued pursuant to this article, the commissioner shall charge and collect the sum of one hundred seven dollars ($107).
• § 11130 — The commissioner may require any society specified in Section 11127 to file with him annually and at such other times as he may determine, and in such form as he may prescribe, a statement showing the
• § 11131 — Every society transacting business in this state shall annually, on or before the first day of March, unless for cause shown such time has been extended by the commissioner, file with the commissioner
• § 11132 — A synopsis of its annual statement and valuation report providing an explanation of the facts concerning the condition of the society thereby disclosed shall be printed and mailed to each benefit memb
• § 11133 — In addition to the annual report required by Section 11131, each society shall annually, on or before the first day of March, file with the commissioner a valuation of its certificates in force on Dec
• § 11134 — Except as otherwise provided in Section 10489.
• § 11135 — The present value of deferred payments due under incurred claims or matured certificates shall be deemed a liability of the society and shall be computed upon the mortality and interest basis assumed
• § 11136 — Except as otherwise provided in Section 10489.
• § 11137 — Whenever the commissioner finds from any financial statement or valuation report made to him or her by any society authorized to do business in this state or from a filed report on examination of any
• § 11138 — The commissioner, or any person he may appoint, shall have the power of visitation and examination into the affairs of any domestic society.
• § 11139 — No report of examination shall be adopted by the commissioner or filed by him as an official document except after a notice is given and a hearing held thereon, if demanded, in accordance with the pro
• § 11140 — The commissioner, or any person whom he may appoint, may examine any foreign society, transacting or applying for admission to transact business in this State.
• § 11141 — Pending, during or after an examination or investigation of a society, either domestic or foreign, the commissioner shall make public no financial statement, report or finding, nor shall he permit to
• § 11142 — No person shall cause or permit to be made, issued or circulated in any form: (a) Any misrepresentation or false or misleading statement concerning the terms, benefits or advantages of any fraternal i
• § 11143 — A comparison of insurance contracts is incomplete if it does not compare in detail: (a) The gross rates, and the gross rates less any dividend or other reduction allowed at the date of the comparison;
• § 11144 — A comparison of insurance contracts is incomplete if it omits from consideration: (a) Any benefit or value provided in the contract, (b) Any differences as to amount or period of premiums or payments,
• § 11145 — In any determination of the incompleteness or misleading character of any comparison or statement, it shall be presumed that the insured had no knowledge of any of the contents of the contract involve
• § 11146 — Any person who violates any provision of Sections 11142 to 11145 or knowingly receives any compensation or commission by or in consequence of such violation, shall upon conviction be punished by a fin
• § 11160 — Compensation shall not be paid to any employee or officer by whatever name known of either of the parties to any contract of merger, consolidation or reinsurance for directly or indirectly aiding in e
• § 11161 — Any person violating Section 11160 is guilty of a felony and punishable by a fine not exceeding ten thousand dollars ($10,000) or imprisonment pursuant to subdivision (h) of Section 1170 of the Penal
• § 11162 — It is a felony, punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, for any officer, director, agent or employee of any fraternal benefit society to, directly or
• § 11163 — It is a felony, punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, for any officer, trustee, agent or employee of a fraternal benefit society to ask, receive, or
• § 11164 — Any person not authorized pursuant to Section 11013 who solicits membership for, or in any manner assists in procuring membership in, any nonadmitted fraternal benefit society is guilty of a misdemean
• § 11165 — Any person who knowingly or willfully makes any false or fraudulent statement or representation in or with reference to any application for membership, or for the purpose of obtaining money or benefit
• § 112 — Burglary insurance includes: (a) Insurance against loss by burglary or theft or both.
• § 113 — Credit insurance includes insurance of persons engaged in business against loss by reason of extending credit to those dealing with them, and insurance against loss from the failure of persons to meet
• § 114 — Sprinkler insurance includes insurance against loss through damage by water to goods or premises arising from the breakage or leakage of sprinklers, pumps, or other apparatus placed for extinguishing
• § 1140 — Except as otherwise provided in this code, incorporated insurers are subject to the provisions of the general corporation law in like manner with other corporations.
• § 1140.1 — (a) A domestic incorporated life insurer may be organized under the Nonprofit Mutual Benefit Corporation Law.
• § 1140.5 — (a) Notwithstanding any other law, a copy of every form of proxy or written consent or authorization for use at any meeting or proceeding of shareholders or stockholders of any domestic insurer to evi
• § 11400 — Firemen's, policemen’s or peace officers’ benefit and relief associations now existing, or that may be formed hereafter for the purpose of aiding their members or dependents of their members in case o
• § 11401 — (a) An association shall not operate or do business in this state without a certificate of authority.
• § 11401.5 — (a) (1) Each association that holds a certificate of authority pursuant to this chapter and that issues long-term disability or long-term care policies or contracts shall submit to the commissioner th
• § 11401.6 — An association that self-funds all or part of the benefits provided under this chapter shall include the following language, or other language approved by the commissioner, in all contracts that are n
• § 11401.7 — Each association that holds a certificate of authority pursuant to this chapter and that issues long-term disability or long-term care policies or contracts shall, upon written request from a member,
• § 11402 — Such association may be incorporated or unincorporated, but if incorporated it shall neither issue nor be authorized to issue shares of stock.
• § 11403 — The membership of such association shall consist solely of the following or any combination thereof: (a) Members of police departments of municipal or public corporations or districts.
• § 11404 — Such association shall not pay, promise or agree to pay, either directly or indirectly, any consideration of any nature for the solicitation or procuring of members or applications for membership.
• § 11405 — The trustees, directors or governing body of such association, by whatever name their office is known or designated, shall be elected by the membership of the association.
• § 11406 — Moneys or property directly or indirectly contributed to such association by its members shall not be paid out as benefits to any persons other than its members, their dependents, or beneficiaries nom
• § 11407 — Such association shall be supported mainly by contributions from its members, whether in the form of fees, dues, assessments, or otherwise, and by donations made to it from time to time.
• § 1141 — No director, trustee, officer or agent of any insurer shall be subject to personal liability by reason of any payment or any determination not to contest or seek recovery of any payment made subsequen
• § 1142 — In situations of hardship, financial embarrassment or where other good cause is shown the commissioner may, in his discretion, by written order, permit an insurer to acquire by gift, devise, bequest o
• § 11420 — Any domestic insurer providing life insurance upon the assessment plan may transform itself into an incorporated life insurer issuing policies on a reserve basis with such name as its directors or tru
• § 11421 — After completing such transformation and procuring from the commissioner a certificate of authority to transact business in this State as an incorporated insurer issuing policies on a reserve basis, i
• § 11422 — The transformed insurer is a continuation of the original insurer.
• § 11440 — Any insurer so reorganized shall have assets representing a paid-in capital represented by shares of stock apart from any assets described in Section 11441.
• § 11441 — All assets belonging before transformation to any such insurer or arising or accruing from policies issued upon the assessment plan, shall be used only for the benefit of the holders of such policies.
• § 11442 — If, at or after the time of the transformation, it appears, either from the last preceding annual report by such insurer to the commissioner, or from an investigation made by the commissioner, that th
• § 11443 — The fund required by Section 11442 shall be used for the payment of matured liabilities arising under the assessment plan when other assets applicable thereto are exhausted.
• § 11460 — Members of the insurer who are in good standing prior to the transformation may thereafter transfer their insurance, without change of amount and without medical examination, from the assessment plan
• § 11470 — The insurer, after such transformation, shall exercise all the rights and powers and perform all the duties conferred or imposed by law upon insurers writing the classes of insurance written by it.
• § 11471 — Such insurer shall exercise all the rights and powers and perform all the duties necessary to protect rights and contracts existing prior to reorganization.
• § 11472 — The commissioner shall exercise the powers and discharge the duties, concerning any such insurer, that are applicable to domestic insurers issuing policies of the same class.
• § 11490 — Any life insurer which has transformed its business pursuant to this chapter shall value its assessment policies according to the standard of valuation which would be used in the absence of the transf
• § 115 — Team and vehicle insurance includes insurance against loss through damage or legal liability for damage, to property caused by the use of teams or vehicles other than ships, boats, or railroad rolling
• § 1152 — (a) Domestic incorporated stock insurers, except those governed by Sections 10530, 12373, and 12640.
• § 11520 — The following organizations and persons may receive transfers of property, conditioned upon their agreement to pay an annuity to the transferor or the transferor’s nominee, after obtaining from the co
• § 11520.5 — A person shall not transact in this state the business described in this chapter without first procuring a certificate of authority from the commissioner for that purpose.
• § 11520.6 — (a) Before granting a certificate of authority or amended certificate of authority as a grants and annuities society to any applicant, the commissioner shall consider the qualifications of the applica
• § 11521 — Upon granting to such organization or person a certificate of authority to receive such transfers, the commissioner shall require it to establish and maintain a reserve fund adequate to meet the futur
• § 11521.1 — (a) The funds and other property, together with interest and dividends thereon and proceeds therefrom, conditioned upon issuance of the certificate holder’s contracts to pay annuities, shall be mainta
• § 11521.2 — (a) The reserve required by the table of commensurate values for each annuity contract issued must be invested in investments specified in Sections 1170 through 1182 except that a certificate holder m
• § 11521.3 — (a) Prior to admission each applicant shall file with the commissioner an accurate and complete financial statement consisting of a balance sheet and income and expense statement, showing the current
• § 11521.4 — The commissioner may, in his discretion and after hearing, require the disposal of any investment made in violation of the provisions of this chapter; pending disposal pursuant to such order, no value
• § 11521.5 — The commissioner may adopt reasonable rules and regulations as may be necessary to carry out the provisions of this chapter pursuant to the provisions of Chapter 3.
• § 11521.6 — Nothing contained in Section 11521, 11521.
• § 11522 — Every organization or person holding a certificate of authority to receive transfers under this chapter shall make and file with the commissioner information regarding each agreement entered into betw
• § 11523 — (a) The annuity agreement shall show each of the following: (1) The value of the property transferred.
• § 11523.5 — Any person holding a certificate of authority under this chapter may reinsure its total liability under an annuity agreement (as defined in Section 11523) with an admitted insurer for a single premium
• § 11523.6 — No grants and annuities society applying for admission to this state, or transacting in this state, the business described in this chapter shall transact or be authorized to transact a variable annuit
• § 11524 — Except as prescribed in this chapter, such organization or person shall be otherwise exempt from the provisions of this code and other insurance laws of this state, except the provisions of Sections 7
• § 11525 — A solvent domestic incorporated insurer having a paid-in capital represented by outstanding shares of capital stock and issuing, on a reserve basis, nonassessable policies of life insurance or of both