California § 10509.933. 10509.933. (Added by Stats. 2011, Ch. 130, Sec. 1.)

California Statutes

§ 10509.933. — 10509.933. (Added by Stats. 2011, Ch. 130, Sec. 1.)

California § 10509.933.

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 § 10509.933. (10509.933. (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 § 10509.933. (2026).

Text

For the purposes of this article, the following terms have the following definitions:

(a)“Insurer” means an insurance company that delivers or issues for delivery in this state any policy of individual or group life insurance.

(b)“Retained asset account” means any mechanism where the settlement of proceeds payable under a life insurance policy is accomplished by the insurer, or an entity acting on behalf of the insurer, by depositing the proceeds into an account with check or draft writing privileges, and where those proceeds are retained by the insurer, pursuant to a supplemental contract not involving annuity benefits.

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For the purposes of this article, the following terms have the following definitions:
(a)
“Insurer” means an insurance company that delivers or issues for delivery in this state any policy of individual or group life insurance.
(b)
“Retained asset account” means any mechanism where the settlement of proceeds payable under a life insurance policy is accomplished by the insurer, or an entity acting on behalf of the insurer, by depositing the proceeds into an account with check or draft writing privileges, and where those proceeds are retained by the insurer, pursuant to a supplemental contract not involving annuity
benefits.