§ 1216.4. — 1216.4. (Added by Stats. 1992, Ch. 614, Sec. 7.)

California § 1216.4.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 1.: DIVISION 1. GENERAL RULES GOVERNING INSURANCE
• Part 2.: PART 2. THE BUSINESS OF INSURANCE
• Ch. 2.: CHAPTER 2. Incorporated Insurers
• Art. 4.8.: ARTICLE 4.8. Business Transacted with Producer Controlled Insurer

Text

The controlling producer shall, prior to the effective date of the policy, deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer; except that, if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in its records a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the producer and that the subproducer has or will notify the insured of the relationship between the controlling producer and the controlled insurer.

Legislative History

Added by Stats. 1992, Ch. 614, Sec. 7. Effective January 1, 1993.