California Code
PART 2 - LIFE AND DISABILITY INSURANCE
CHAPTER 5 - General Regulation of Life Insurers

ARTICLE 1 - Restrictions on Business

Section 10430. - 10430. An admitted life insurer shall not issue or deliver...

Section 10431. - 10431. A life insurer which, as an inducement to insurance,...

Section 10432. - 10432. A corporation or stock company, acting as agent of...

Section 10433. - 10433. Upon proof, after notice and hearing, that any such...

Section 10434. - 10434. (a) An admitted life insurer shall not pay or...

Section 10435. - 10435. Whenever any insurer violates Section 10434, the commissioner may...

Section 10436. - 10436. An admitted life insurer may issue a rider to...

ARTICLE 1a - Regulation of Internal Affairs of Mutual Insurers

Section 10440. - 10440. In any meeting of members of a domestic mutual...

Section 10441. - 10441. The provisions of Section 10440 shall not apply to...

Section 10442. - 10442. Except as otherwise provided in this article or in...

ARTICLE 2 - Registration of Life Policies

Section 10450. - 10450. Any insurer transacting life insurance in this State on...

Section 10450.5. - 10450.5. An insurer which is not registering its policies pursuant...

Section 10450.6. - 10450.6. Any insurer registering its policies pursuant to this article...

Section 10451. - 10451. When an insurer elects to register any of its...

Section 10452. - 10452. Such registration shall in each case show the name...

Section 10454. - 10454. An insurer registering policies shall maintain a special deposit...

Section 10455. - 10455. The commissioner shall give his receipt for the securities...

Section 10456. - 10456. Such deposit shall be maintained in an amount equal...

Section 10457. - 10457. Upon receipt of such securities, the commissioner shall immediately...

Section 10458. - 10458. Such insurer may at any time withdraw any excess...

Section 10459. - 10459. If such insurer owns the building in which it...

Section 10460. - 10460. Such mortgage may be deposited in the State treasury...

Section 10461. - 10461. The commissioner may release any such mortgage or may...

Section 10462. - 10462. Should any insurer thus registering policies become insolvent, the...

Section 10463. - 10463. The commissioner shall require in advance, in lawful money...

ARTICLE 3 - Valuation of Life Policies

Section 10478. - 10478. This article is applicable only to policies and contracts...

Section 10479. - 10479. The commissioner shall annually value, or cause to be...

Section 10479.5. - 10479.5. When the commissioner has valued the reserve liabilities of...

Section 10480. - 10480. On or before the first day of March of...

Section 10481. - 10481. Every admitted foreign life insurer shall, upon the written...

Section 10482. - 10482. Except as provided in Sections 10484 and 10485, and...

Section 10483. - 10483. When the laws of any other State require a...

Section 10484. - 10484. In the case of insurance issued by a domestic...

Section 10485. - 10485. Any life insurer issuing policies of group life insurance...

Section 10486. - 10486. All policies of group insurance shall be segregated by...

Section 10486.9. - 10486.9. (a) As prescribed in subdivision (b), an insurer may...

Section 10488. - 10488. Reserves for all policies and contracts to which this...

Section 10489. - 10489. Any insurer which at any time shall have adopted...

ARTICLE 3a - Standard Valuation Law

Section 10489.1. - 10489.1. (a) This article shall be known as the Standard...

Section 10489.12. - 10489.12. (a) For policies and contracts issued prior to the...

Section 10489.15. - 10489.15. (a) Each of the following shall apply to actuarial...

Section 10489.2. - 10489.2. For a computation of minimum standard, except as provided...

Section 10489.3. - 10489.3. (a) Except as provided in Section 10489.4, the minimum...

Section 10489.4. - 10489.4. (a) The interest rates used in determining the minimum...

Section 10489.5. - 10489.5. (a) Except as otherwise provided in Sections 10489.6, 10489.9,...

Section 10489.6. - 10489.6. (a) This section shall apply to all annuity and...

Section 10489.7. - 10489.7. (a) A company’s aggregate reserves for all life insurance...

Section 10489.8. - 10489.8. (a) Reserves for any category of policies, contracts, or...

Section 10489.9. - 10489.9. (a) If in any contract year the gross premium...

Section 10489.93. - 10489.93. In the case of a plan of life insurance...

Section 10489.94. - 10489.94. (a) The commissioner may issue a bulletin to provide...

Section 10489.95. - 10489.95. For accident and health insurance contracts issued on or...

Section 10489.96. - 10489.96. (a) For policies issued on or after the operative...

Section 10489.97. - 10489.97. (a) A company shall establish reserves using a principle-based...

Section 10489.98. - 10489.98. A company shall submit mortality, morbidity, policyholder behavior, or...

Section 10489.99. - 10489.99. (a) For purposes of this section, “confidential information” means:...

Section 10489.992. - 10489.992. (a) (1) The commissioner may hire and assign department...

ARTICLE 4 - Qualifications and Exemptions

Section 10490. - 10490. This article is applicable only to life and disability...

Section 10490.1. - 10490.1. Any nonprofit incorporated or unincorporated mutual benefit association in...

Section 10490.2. - 10490.2. If an association described in Section 10490.1 has operated...

Section 10491. - 10491. Persons possessing a valid and unrevoked certificate of authority...

Section 10492. - 10492. Any incorporated or unincorporated benefit and relief association organized...

Section 10493. - 10493. An incorporated or unincorporated benefit and relief association organized...

Section 10494. - 10494. Such a benefit and relief association shall not provide...

Section 10494.2. - 10494.2. Any incorporated or unincorporated benefit and relief association, the...

Section 10494.5. - 10494.5. Any employer maintaining a plan for furnishing disability insurance...

Section 10494.6. - 10494.6. Any employer who qualifies for a certificate of exemption...

Section 10494.7. - 10494.7. With respect to the supplemental plan described in Section...

Section 10495. - 10495. A certificate of exemption may be procured from the...

Section 10496. - 10496. Any person transacting life or disability insurance without a...

Section 10497. - 10497. If the commissioner finds that an applicant for a...

Section 10498. - 10498. An applicant for a certificate of exemption must comply...

Section 10498.5. - 10498.5. If a holder of a certificate of exemption receives...

Section 10498.6. - 10498.6. The commissioner may from time to time issue regulations...

Section 10499. - 10499. The commissioner may at any time notify any person...

Section 10500. - 10500. Every person not expressly exempted by the provisions of...

Section 10501. - 10501. Any person subject to this article who upon January...

Section 10505. - 10505. (a) A labor union having all of the following...

Section 10505.1. - 10505.1. (a) (1) Any nonprofit cooperative assessment association, the membership...

ARTICLE 5 - Pension Funds, Separate Accounts

Section 10506. - 10506. (a) Any domestic life insurance company may, after adoption...

Section 10506.1. - 10506.1. The commissioner shall require the payment of two thousand...

Section 10506.2. - 10506.2. (a) The commissioner shall require the payment in advance...

Section 10506.3. - 10506.3. (a) The commissioner shall adopt appropriate administrative regulations governing...

Section 10506.4. - 10506.4. (a) An admitted life insurer that is financially qualified...

Section 10506.5. - 10506.5. (a) For the purposes of this section, “guaranteed living...

ARTICLE 6 - Investment Return Assurance

Section 10507. - 10507. (a) Any life insurance company authorized to do business...

Section 10507.1. - 10507.1. The commissioner shall require the payment of three hundred...

Section 10507.2. - 10507.2. An investment return assurance policy evidencing such insurance, shall...

Section 10507.3. - 10507.3. No policy of investment return assurance shall be delivered...

Section 10507.4. - 10507.4. In furtherance of the purpose of this article, the...

ARTICLE 6.5 - Portfolio Indexing

Section 10507.5. - 10507.5. (a) An insurer may deliver or issue for delivery...

ARTICLE 7 - Records

Section 10508. - 10508. (a) It is the obligation of every insurer admitted...

Section 10508.5. - 10508.5. It shall be the obligation of each life, life...

Section 10508.6. - 10508.6. (a) The Legislature finds and declares that there is...

Section 10508.7. - 10508.7. A person subject to the requirements of Section 10508.6...

Section 10508.8. - 10508.8. The commissioner shall ensure, to the furthest extent possible,...

ARTICLE 8 - Requirements for Replacement of Life Insurance and Annuity Policies

Section 10509. - 10509. The purpose of this article is the following: (a)...

Section 10509.1. - 10509.1. This article is applicable to all individual life insurance...

Section 10509.2. - 10509.2. (a) “Replacement” means any transaction in which new life...

Section 10509.3. - 10509.3. (a) Unless otherwise specifically included, this article does not...

Section 10509.4. - 10509.4. (a) Each agent who accepts an application shall submit...

Section 10509.5. - 10509.5. Every life insurer shall do the following: (a) Inform...

Section 10509.6. - 10509.6. Every life insurer that uses an agent in a...

Section 10509.7. - 10509.7. (a) If in the solicitation of a direct response...

Section 10509.8. - 10509.8. (a) A violation of this article shall occur if...

Section 10509.9. - 10509.9. (a) Any agent or other person or entity engaged...

ARTICLE 9 - Suitability Requirements for Annuity Transactions

Section 10509.910. - 10509.910. The purpose of this article is to require insurers...

Section 10509.911. - 10509.911. (a) This article shall apply to any recommendation to...

Section 10509.912. - 10509.912. Unless otherwise specifically included, this article shall not apply...

Section 10509.913. - 10509.913. (a) “Annuity” means an annuity that is an insurance...

Section 10509.914. - 10509.914. (a) In recommending to a consumer the purchase of...

Section 10509.915. - 10509.915. (a) An insurance producer shall not solicit the sale...

Section 10509.916. - 10509.916. (a) An insurer is responsible for compliance with this...

Section 10509.917. - 10509.917. (a) Insurers and insurance producers shall maintain or be...

Section 10509.918. - 10509.918. The commissioner shall, from time to time as conditions...

ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20

Section 10509.930. - 10509.930. This act shall be known and may be cited...

Section 10509.931. - 10509.931. The Legislature finds and declares all of the following:...

Section 10509.932. - 10509.932. The purpose of this act is to establish disclosure...

Section 10509.933. - 10509.933. For the purposes of this article, the following terms...

Section 10509.934. - 10509.934. The insurer shall provide the beneficiary of life insurance...

Section 10509.935. - 10509.935. If the insurer settles life insurance benefits through a...

Section 10509.936. - 10509.936. If the life insurance benefits are placed in a...

Section 10509.937. - 10509.937. The insurer shall provide the following written disclosures to...

Section 10509.938. - 10509.938. An insurer that fails to conform to the requirements...

ARTICLE 12 - Unclaimed Life Insurance and Annuities Act

Section 10509.940. - 10509.940. This act shall be known and may be cited...

Section 10509.941. - 10509.941. The purpose of this article is to provide standards...

Section 10509.942. - 10509.942. For purposes of this article: (a) “Annuity contract” does...

Section 10509.943. - 10509.943. (a) This article applies to an in-force policy, annuity...

Section 10509.944. - 10509.944. (a) An insurer shall comply with the following requirements...

Section 10509.945. - 10509.945. (a) Failure to meet a requirement of this article...

Section 10509.946. - 10509.946. The provisions of this article are severable. If any...