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 § 10509.932.

JurisdictionCalifornia

Code INSInsurance 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

This text of California § 10509.932. (10509.932. (Added by Stats. 2011, Ch. 130, Sec. 1.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 10509.932. (2026).

Text

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.