California Insurance Code

§ 10203.9

INS § 10203.9Div. 2 · Part 2 · Ch. 2

Statute text

In addition to the other specific circumstances under which a group life policy may be issued under this chapter a group life policy may be issued to an existing insured to replace an existing valid group life policy if: (1) it provides the same benefits at the same or a lesser rate as the policy to be replaced: (2) it offers such benefits to all persons covered by the policy to be replaced; and (3) 90 percent of all persons covered by the policy to be replaced become insured under the new policy.

Legislative history

Added by Stats. 1955, Ch. 664.