§ 10490.2. — 10490.2. (Added by Stats. 1953, Ch. 1356.)

California § 10490.2.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 2.: DIVISION 2. CLASSES OF INSURANCE
• Part 2.: PART 2. LIFE AND DISABILITY INSURANCE
• Ch. 5.: CHAPTER 5. General Regulation of Life Insurers
• Art. 4.: ARTICLE 4. Qualifications and Exemptions

Text

If an association described in Section 10490.1 has operated pursuant thereto since January 1, 1945, it may procure a certificate of exemption from the commissioner upon meeting all of the requirements of this article relating thereto except those of Section 10494. Thereafter such association shall be subject to:
(a)
All of the requirements of this article relating to an association holding a certificate of exemption except Section 10494, and
(b)
The limitations of Section 10490.1, except that it may pay disability benefits in amounts not
exceeding three thousand six hundred dollars ($3,600) in the aggregate in any one calendar year on account of the disability of any one person.

Legislative History

Added by Stats. 1953, Ch. 1356.