California § 10509.932. 10509.932. (Added by Stats. 2011, Ch. 130, Sec. 1.)

California Statutes

§ 10509.932. — 10509.932. (Added by Stats. 2011, Ch. 130, Sec. 1.)

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. 11. ARTICLE 11. Life Insurance Proceeds Disclosure Act of 2011

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.

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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.

California § 10509.932. (10509.932. (Added by Stats. 2011, Ch. 130, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.