California Insurance Code

§ 10113.3

INS § 10113.3 Effective Jan 1, 2010Div. 2 · Part 2 · Ch. 1 · Art. 1

Statute text

(a)A provider entering into a life settlement contract with any owner of a policy, wherein the insured is terminally ill, shall first obtain the following:

(1)If the owner is the insured, a written statement from a licensed attending physician that the owner is of sound mind and under no constraint or undue influence to enter into a settlement contract.

(2)A document in which the insured consents to the release of his or her medical records to a provider, settlement broker, or insurance producer and, if the policy was issued less than two years from the date of application for a settlement contract, to the insurance company that issued the policy.

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Legislative history

Added by Stats. 2009, Ch. 343, Sec. 6. (SB 98) Effective January 1, 2010.