§ 1067.01. — 1067.01. (Repealed and added by Stats. 1993, Ch. 974, Sec. 1.7.)

California § 1067.01.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 1.: DIVISION 1. GENERAL RULES GOVERNING INSURANCE
• Part 2.: PART 2. THE BUSINESS OF INSURANCE
• Ch. 1.: CHAPTER 1. General Regulations
• Art. 14.7.: ARTICLE 14.7. California Life and Health Insurance Guarantee Association

Text

(a)
The purpose of this article is to protect, subject to certain limitations, the persons specified in Section 1067.02 against failure in the performance of contractual obligations, under life and health insurance policies and annuity contracts specified in Section 1067.02, because of the impairment or insolvency of the member insurer that issued the policies or contracts.
(b)
To provide this protection, an association of insurers is created to pay benefits and to continue coverages as limited herein, and members of the association are subject to assessment to provide funds to carry out the purposes of this article.

Legislative History

Repealed and added by Stats. 1993, Ch. 974, Sec. 1.7. Effective January 1, 1994.