reglab/housing_qa huggingface dataset:
CA Ins Code § 10509.911 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 9 - Suitability Requirements for Annuity Transactions|Section 10509.911.

10509.911.  (a) This article shall apply to any recommendation to purchase, exchange, or replace an annuity made to a consumer that results in the purchase, exchange, or replacement that was recommended.(b) Nothing in this act shall be interpreted to preclude, preempt, or otherwise interfere with the application of any other laws of this state that may apply in any matter involving the sale of an annuity that is subject to this article.(Added by Stats. 2011, Ch. 295, Sec. 2. (AB 689) Effective January 1, 2012.)
CA Ins Code § 10509.912 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 9 - Suitability Requirements for Annuity Transactions|Section 10509.912.

10509.912.  Unless otherwise specifically included, this article shall not apply to transactions involving any of the following:(a) Direct response solicitations where there is no recommendation based on information collected from the consumer pursuant to this article.(b) Contracts used to fund any of the following:(1) An employee pension or welfare benefit plan that is covered by the federal Employee Retirement Income Security Act (ERISA) of 1974 (29 U.S.C. Sec. 1001 et seq.).(2) A plan described by Section 401(a), 401(k), 403(b), 408(k), or 408(p) of the Internal Revenue Code (IRC), as amended, if established or maintained by an employer.(3) A government or church plan defined in Section 414 of the IRC, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax-exempt organization under Section 457 of the IRC.(4) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor.(5) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process.(6) Formal prepaid funeral contracts.(Amended by Stats. 2012, Ch. 162, Sec. 114. (SB 1171) Effective January 1, 2013.)
CA Ins Code § 10509.916 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 9 - Suitability Requirements for Annuity Transactions|Section 10509.916.

10509.916.  (a)  An insurer is responsible for compliance with this article. If a violation occurs, either because of the action or inaction of the insurer or its insurance producer, the commissioner may, in addition to any other available penalties, remedies, or administrative actions, order any or all of the following:(1) An insurer to take reasonably appropriate corrective action for any consumer harmed by the insurer’s, or by its insurance producer’s, violation of this article.(2) A managing general agent or an insurance producer to take reasonably appropriate corrective action for any consumer harmed by the insurance producer’s violation of this article.(3) Penalties and sanctions pursuant to Section 10509.9. For purposes of Section 10509.9, this article shall be deemed to be part of Article 8 (commencing with Section 10509), and the commissioner may in a single enforcement action seek penalties for a first and a second or subsequent violation.(b) Nothing in this article shall affect any obligation of an insurer for acts of its agents, or any consumer remedy or cause of action that is otherwise provided for.(Added by Stats. 2011, Ch. 295, Sec. 2. (AB 689) Effective January 1, 2012.)
CA Ins Code § 10509.917 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 9 - Suitability Requirements for Annuity Transactions|Section 10509.917.

10509.917.  (a) Insurers and insurance producers shall maintain or be able to make available to the commissioner records of the information collected from the consumer and other information used in making the recommendations that were the basis for insurance transactions for five years after the insurance transaction is completed by the insurer. An insurer is permitted, but shall not be required, to maintain documentation on behalf of an insurance producer.(b) Records required to be maintained by this article may be maintained in paper, photographic, microprocess, magnetic, mechanical, or electronic media, or by any process that accurately reproduces the actual document.(Added by Stats. 2011, Ch. 295, Sec. 2. (AB 689) Effective January 1, 2012.)
CA Ins Code § 10509.918 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 9 - Suitability Requirements for Annuity Transactions|Section 10509.918.

10509.918.  The commissioner shall, from time to time as conditions warrant, after notice and hearing, adopt reasonable rules and regulations, and amendments and additions thereto, as are necessary to administer this article. The commissioner may adopt regulations not inconsistent with this article pursuant to Section 989J of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203).(Added by Stats. 2011, Ch. 295, Sec. 2. (AB 689) Effective January 1, 2012.)
CA Ins Code § 10509.930 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.930.

10509.930.  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.)
CA Ins Code § 10509.931 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.931.

10509.931.  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 decisions.(b) Life insurance is intended to provide an important resource to support and ease financial decisions at such a time.(c) While life insurance policies may provide for a single payment of the death benefit, policies may also offer alternative payout options, including the use of a retained asset account.(d) The inherent difficulty of financial decisions at such a time may be eased if consumers know what their available payment options are so they can receive the benefit of available life insurance policy proceeds in the form best suited to their circumstances and needs.(Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)
CA Ins Code § 10509.932 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.932.

10509.932.  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 alternative to the receipt of insurance proceeds by a single payment made directly to the beneficiary that satisfies all of the benefits owed to the beneficiary.(Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)
CA Ins Code § 10509.933 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.933.

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 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.(Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)
CA Ins Code § 10509.934 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.934.

10509.934.  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 asset accounts, and how to obtain specific details relevant to those options. If a retained asset account is one of the available options, the written information shall include all of the disclosures required by Section 10509.937.(Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)
CA Ins Code § 10509.935 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.935.

10509.935.  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 by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)
CA Ins Code § 10509.936 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.936.

10509.936.  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. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)
CA Ins Code § 10509.937 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.937.

10509.937.  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 the draft book or checkbook.(b) One draft or check may be written to access the entire amount, including interest, of the retained asset account at any time.(c) Whether the available settlement options are preserved until the entire balance is withdrawn or the balance drops below the insurer’s minimum balance requirements.(d) A statement identifying the account as either a checking or draft account and an explanation of how the account works, including, but not limited to, any minimum check or draft amount requirements.(e) Information about the account services provided and contact information where the beneficiary may request and obtain more details about those services.(f) A description of any fees charged, if applicable.(g) The frequency of statements showing the current account balance, the interest credited, drafts or checks written, and any other account activity. 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.(h) The guaranteed minimum interest rate to be credited to the account, how the actual interest rate will be determined, and the actual interest rate that would be credited to a newly opened account as of the date the disclosure is issued. The actual interest rate may be disclosed by the insurer with the disclosures provided with the claim documents sent to the beneficiary, through a toll-free telephone number established by the insurer, or through the insurer’s Internet Web site.(i) That the interest earned on the account may be taxable.(j) Retained asset account funds held by insurance companies are not guaranteed by the Federal Deposit Insurance Corporation (FDIC), but are guaranteed by State Guaranty Associations, and that the State Guaranty Association coverage limits vary by state.(k) A statement that advises the beneficiary to contact the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA) to learn more about the coverage limitations applicable to his or her account, and that provides the beneficiary with the current Internet Web site address and telephone number for NOLHGA.(l) A description of the insurer’s policy regarding retained asset accounts that become inactive, including the policy with respect to inactive accounts that are at risk of escheating to the state pursuant to the California Unclaimed Property Law (Chapter 7 (commencing with Section 1500) of Title 10 of Part 3 of the Code of Civil Procedure).(Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)
CA Ins Code § 10509.938 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 11 - Life Insurance Proceeds Disclosure Act of 20|Section 10509.938.

10509.938.  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.)
CA Ins Code § 10509.940 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 12 - Unclaimed Life Insurance and Annuities Act|Section 10509.940.

10509.940.  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.)
CA Ins Code § 10509.941 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 12 - Unclaimed Life Insurance and Annuities Act|Section 10509.941.

10509.941.  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) Locating beneficiaries of a deceased individual and providing appropriate claims forms or instructions to the beneficiaries to make a claim.(Added by Stats. 2019, Ch. 286, Sec. 1. (SB 740) Effective January 1, 2020.)
CA Ins Code § 10509.943 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 12 - Unclaimed Life Insurance and Annuities Act|Section 10509.943.

10509.943.  (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 article applies to a policy, annuity contract, or retained asset account described in subdivision (a) if one of the following applies:(1) The insurer is domiciled in this state.(2) The policy, annuity contract, or retained asset account was issued or delivered in this state.(Added by Stats. 2019, Ch. 286, Sec. 1. (SB 740) Effective January 1, 2020.)
CA Ins Code § 10509.945 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 12 - Unclaimed Life Insurance and Annuities Act|Section 10509.945.

10509.945.  (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.(c) Unless otherwise expressly provided, the remedies or penalties provided for by this article are cumulative to each other and to the remedies or penalties available under all other laws.(Added by Stats. 2019, Ch. 286, Sec. 1. (SB 740) Effective January 1, 2020.)
CA Ins Code § 10509.946 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 5 - General Regulation of Life Insurers|ARTICLE 12 - Unclaimed Life Insurance and Annuities Act|Section 10509.946.

10509.946.  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. 286, Sec. 1. (SB 740) Effective January 1, 2020.)
CA Ins Code § 10510 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 6 - Incorporated Life Insurers Issuing Policies on a Reserve Basis|ARTICLE 1 - Capital|Section 10510.

10510.  An incorporated life insurer issuing policies on the reserve basis shall not transact life insurance in this state unless it has a paid-in capital of at least two million two hundred fifty thousand dollars ($2,250,000) plus the surplus required by Section 700.02 and Section 700.05.(Amended by Stats. 1989, Ch. 418, Sec. 3.)
CA Ins Code § 10511 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 6 - Incorporated Life Insurers Issuing Policies on a Reserve Basis|ARTICLE 1 - Capital|Section 10511.

10511.  If authorized by its charter, such an incorporated life insurer may, except as provided in Section 700.03, transact, in addition to life insurance, any of the following classes of insurance if its total paid-in capital is at least two million two hundred fifty thousand dollars ($2,250,000) in excess of the sum of the amounts set forth opposite the classes of insurance transacted: Number and name of classAmount of capitalclass transactedto be added 6. Disability  ........................ 250,000 8. Liability 9.  Workers’  compensation 10. Common carrier liability⎫ _____ ⎪ _____ ⎬ ........................ ⎪ _____ ⎭ _____ 300,000 for all or any of them(Amended by Stats. 1989, Ch. 418, Sec. 4.)
CA Ins Code § 10512 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 6 - Incorporated Life Insurers Issuing Policies on a Reserve Basis|ARTICLE 1 - Capital|Section 10512.

10512.  An insurer holding a certificate of authority for life insurance and any other proper class on December 31, 1989, shall be governed by the provisions of Section 700.05, 10510, and 10511 in effect on December 31, 1989, until December 31, 1999. After December 31, 1999, any insurer holding a certificate of authority for life insurance and any other proper class shall meet the capital requirement of Sections 10510 and 10511 as become effective January 1, 1990.(Amended by Stats. 1989, Ch. 418, Sec. 5.)
CA Ins Code § 10530 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 6 - Incorporated Life Insurers Issuing Policies on a Reserve Basis|ARTICLE 2 - Dividends|Section 10530.

10530.  (a) A domestic incorporated life insurer issuing policies on the reserve plan shall not make any dividends, except from earned surplus.(b) No dividends shall be declared out of earned surplus derived from the mere appreciation in the value of assets not yet realized, nor shall any dividends be declared from any part of earned surplus derived from an exchange of assets, unless and until earned surplus has been realized, or unless the assets received are currently realizable in cash.(c) An insurer may declare and distribute a dividend otherwise prohibited by this section if (1) following payment of the dividend the insurer’s surplus as regards policyholders is (A) reasonable in relation to its outstanding liabilities and (B) adequate to its financial needs as prescribed in Section 1215.5, and (2) the commissioner has given approval for the dividend prior to payment.(d) For purposes of this section, “earned surplus” means unassigned funds, as required to be reported on the insurer’s annual statement.(Amended by Stats. 1993, Ch. 974, Sec. 5. Effective January 1, 1994.)
CA Ins Code § 10540 (2021)
2021 California Code|Insurance Code - INS|DIVISION 2 - CLASSES OF INSURANCE|PART 2 - LIFE AND DISABILITY INSURANCE|CHAPTER 6 - Incorporated Life Insurers Issuing Policies on a Reserve Basis|ARTICLE 3 - Premiums and Premium Accounts|Section 10540.

10540.  An incorporated life insurer issuing life insurance policies on the reserve basis may collect premiums in advance. Such insurers may also accept moneys for the payment of future premiums related to any policies issued by it. No such insurer may accept such moneys in an amount to exceed (1) the sum of future unpaid premiums on any such policy or (2) the sum of 10 such future unpaid annual premiums on any such policy if such sum is less than the sum of future unpaid premiums on any such policy. This section shall not limit the right of such insurers to accept funds under an agreement which provides for an accumulation of such funds for the purpose of purchasing annuities at future dates.(Amended by Stats. 1957, Ch. 2314.)