§ 9855.85. — 9855.85. (Added by Stats. 2010, Ch. 543, Sec. 5.)

California § 9855.85.

• Jurisdiction: California
• Code BPC: Business and Professions Code - BPC
• Div. 3.: DIVISION 3. PROFESSIONS AND VOCATIONS GENERALLY
• Ch. 20.: CHAPTER 20. Electronic and Appliance Repair Dealers
• Art. 4.5.: ARTICLE 4.5. Service Contractors

Text

Unless otherwise lawfully transacting the business of insurance pursuant to a certificate of authority issued pursuant to Section 700 of the Insurance Code for the appropriate class, a service contract administrator or third-party seller acting as an obligor on a service contract without having a service contract reimbursement insurance policy covering all service contracts under which the service contract administrator or third-party seller is obligated shall be deemed to be unlawfully transacting the business of insurance and shall be subject to subdivision (b) of Section 700 and Section 12921.8 of the Insurance Code.

Legislative History

Added by Stats. 2010, Ch. 543, Sec. 5. (AB 2111) Effective January 1, 2011. Repealed as of January 1, 2028, pursuant to Section 9855.9.