California Insurance Code

§ 10203.7

INS § 10203.7Div. 2 · Part 2 · Ch. 2

Statute text

Life insurance conforming to all the following conditions is another form of group life insurance:

(a)Written under a policy covering when issued, not less than 10 agents.

(b)Written under a policy issued to a principal, or if such principal be a life or life and disability insurer, by or to such principal, and with whom, or with an agent of whom, each of such agents is under contract to render personal services for a commission or other fixed or ascertainable compensation, the premium on which is to be paid by the principal or by the principal and the agents jointly, and insuring either all of the agents or all of any class or classes thereof, determined by conditions pertaining to the services to be rendered by such agents, provided that if a policy is intended to insure several such classes it may be issued to insure any such class of which 75 percent are covered and extended to other classes as 75 percent thereof express the desire to be covered.

…

Legislative history

Amended by Stats. 1959, Ch. 571.