California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 1 - Production of Insurance › Article 9 - Credit Insurance Agent Licensing Regulations › Section 2192.3 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The following definitions apply to these regulations and to
					 Article 16.7 of Chapter 5 of Part 2 of Division 1 of the Insurance Code
					 (commencing with Section
					 1758.9):
(a) "Authorized insurer" means an insurance
				  company holding a certificate of authority from the California Insurance
				  Commissioner, and that is permitted by that certificate of authority to
				  transact the kinds of insurance enumerated in Insurance Code section
				  1758.96.
(b) "Sell" has the same meaning as
				  "enrollment," as that term is defined in Insurance Code section
				  1758.992(a).
(c) "Solicit" means to mention the
				  availability of credit insurance to a current or prospective debtor, to
				  recommend or suggest consideration of credit insurance to a current or
				  prospective debtor, or to ask a current or prospective debtor if he or she
				  might be interested in obtaining credit insurance.
(d) "Endorsee" means a natural person who is
				  authorized by the Commissioner to sell or solicit credit insurance and is
				  employed by a credit insurance agent organization.
(e) "Commission" means any tangible or
				  intangible thing of value, the existence, size, quality or quantity of which
				  depends on the quantity or value of credit insurance solicited, sold, or
				  enrolled by the person receiving the commission. "Commission" does not include
				  salary paid to an employee of a creditor who sells, solicits, or enrolls, as
				  long as the amount of the salary does not depend on the quantity or value of
				  credit insurance solicited, sold, or enrolled by the employee.
(f) "Compensation," as that term is used in
				  Insurance Code section
				  1758.98(c),
				  has the same meaning as "commission."
(g) "Fee," for the purpose of section
				  1758.98(c), shall
				  have the same meaning as "commission."
(h) "Material terms and conditions," as that
				  phrase is used in Insurance Code section
				  1758.97(a)(1),
				  means all terms and conditions that, if known by or communicated to a
				  sophisticated, prospective purchaser of credit insurance, would more likely
				  than not influence that purchaser's decision to buy or not buy the insurance on
				  the stated terms.
1. New
					 section filed 9-17-2001 as an emergency; operative 9-17-2001 (Register 2001,
					 No. 38). A Certificate of Compliance must be transmitted to OAL by 1-15-2002 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. Repealed by operation of Government Code section
					 11346.1(g)
					 (Register 2002, No. 5).
3. New section filed 1-31-2002 as an
					 emergency; operative 2-1-2002 (Register 2002, No. 5). A Certificate of
					 Compliance must be transmitted to OAL by 6-3-2002 or emergency language will be
					 repealed by operation of law on the following day.
4. New section
					 refiled 6-3-2002 as an emergency; operative 6-3-2002 (Register 2002, No. 23). A
					 Certificate of Compliance must be transmitted to OAL by 10-1-2002 or emergency
					 language will be repealed by operation of law on the following
					 day.
5. Repealed by operation of Government Code section
					 11346.1(g)
					 (Register 2003, No. 10).
6. New section filed 4-29-2003 as an
					 emergency; operative 4-29-2003 (Register 2003, No. 18). A Certificate of
					 Compliance must be transmitted to OAL by 8-27-2003 or emergency language will
					 be repealed by operation of law on the following day.
7. New section
					 refiled 8-26-2003 as an emergency; operative 8-26-2003 (Register 2003, No. 35).
					 A Certificate of Compliance must be transmitted to OAL by 12-24-2003 or
					 emergency language will be repealed by operation of law on the following
					 day.
8. New section refiled 12-23-2003 as an emergency; operative
					 12-23-2003 (Register 2003, No. 52). A Certificate of Compliance must be
					 transmitted to OAL by 4-21-2004 or emergency language will be repealed by
					 operation of law on the following day.
9. Repealed by operation of
					 Government Code section
					 11346.1(g)
					 (Register 2004, No. 18).
10. New section filed 4-29-2004 as an
					 emergency; operative 4-29-2004 (Register 2004, No. 18). A Certificate of
					 Compliance must be transmitted to OAL by 8-27-2004 or emergency language will
					 be repealed by operation of law on the following day.
11.
					 Certificate of Compliance as to 4-29-2004 order transmitted to OAL 6-25-2004
					 and filed 7-29-2004 (Register 2004, No. 31).
Note: Authority cited: Statutes of 2000, Chapter 321,
						Section 8 (Assembly Bill No. 393, 1999).
						Reference: Sections
						1634(h),
						1758.9,
						1758.91,
						1758.92(a)(2),
						1758.92(b),
						1758.93,
						1758.93(b),
						1758.94(a),
						1758.94(b),
						1758.95(a),
						1758.95(b),
						1758.95(c),
						1758.96,
						1758.97,
						1758.97(b)(3),
						1758.97(e),
						1758.98(a),
						1757.98(b),
						1757.98(c)
						and
						1758.992(a),
						Insurance Code.