California Statutes
§ 11122.1. — 11122.1. (Added by Stats. 1995, Ch. 166, Sec. 12.)
California·Code INS Insurance 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
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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California § 11122.1. (11122.1. (Added by Stats. 1995, Ch. 166, Sec. 12.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1995, Ch. 166, Sec. 12. Effective January 1, 1996.