California Insurance Code

§ 10270.505

INS § 10270.505Div. 2 · Part 2 · Ch. 4 · Art. 1

Statute text

Another permitted form of group disability insurance is that which conforms to all of the following conditions.

(1)Covering debtors who are or become obligated to repay an indebtedness in substantially equal installments, or to repay a portion of an indebtedness in substantially equal installments over a year or more and repay a final balance in any amount on a date certain thereafter, to one creditor, as “creditor” is defined in subdivision (3) of Section 779.2.

(2)The group numbers not less than 10 new entrants yearly.

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Legislative history

Amended by Stats. 1969, Ch. 422.