California § 10232.96. 10232.96. (Added by Stats. 1997, Ch. 699, Sec. 6.5.)

California Statutes

§ 10232.96. — 10232.96. (Added by Stats. 1997, Ch. 699, Sec. 6.5.)

California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 2. PART 2. LIFE AND DISABILITY INSURANCE·Ch. 2.6. CHAPTER 2.6. Long-Term Care Insurance·Art. 3. ARTICLE 3. Administration and Enforcement

When a policy or certificate holder of an insurance contract issued prior to December 31, 1996, requests a material modification to the contract as defined by federal law or regulations, the insurer, prior to approving such a request, shall provide written notice to the policy or certificate holder that the contract change requested may constitute a material modification that jeopardizes the federal tax status of the contract and appropriate tax advice should therefore be sought.

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When a policy or certificate holder of an insurance contract issued prior to December 31, 1996, requests a material modification to the contract as defined by federal law or regulations, the insurer, prior to approving such a request, shall provide written notice to the policy or certificate holder that the contract change requested may constitute a material modification that jeopardizes the federal tax status of the contract and appropriate tax advice should therefore be sought.

California § 10232.96. (10232.96. (Added by Stats. 1997, Ch. 699, Sec. 6.5.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.