JurisdictionCaliforniaCode INSInsurance Code - INS
Div. 2.DIVISION 2. CLASSES OF INSURANCE
Part 2.PART 2. LIFE AND DISABILITY INSURANCE
Ch. 10.CHAPTER 10. Fraternal Benefit Societies
Art. 7.ARTICLE 7. Financial Matters
This text of California § 11122.1. (11122.1. (Added by Stats. 1995, Ch. 166, Sec. 12.)) 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.
A society may, if authorized by a resolution of its supreme legislative or governing body, establish and operate one or more separate accounts and issue contracts on a variable basis to persons as specified in Section 11041, subject to compliance with the applicable laws. To the extent a society finds it necessary to comply with federal or state law, or regulations issued under state or federal law, a society may do the following:
(a)Adopt special procedures for conducting the business of the separate account.
(b)Provide special voting and other rights for a person with a beneficial interest in the special account, including, but not limited to, rights and procedures relating to investment policy, investment advisory services, selecting certified public accountants, and selecting a comm
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A society may, if authorized by a resolution of its supreme legislative or governing body, establish and operate one or more separate accounts and issue contracts on a variable basis to persons as specified in Section 11041, subject to compliance with the applicable laws. To the extent a society finds it necessary to comply with federal or state law, or regulations issued under state or federal law, a society may do the following:
(a)
Adopt special procedures for conducting the business of the separate account.
(b)
Provide special voting and other rights for a person with a beneficial interest in the special account, including, but not limited to, rights and procedures relating to investment policy, investment advisory services, selecting certified public accountants, and selecting a committee to manage the account.
(c)
Issue contracts on a variable basis that are exempted from the requirements of Sections 11062, 11064, and 11065.