California Insurance Code

§ 10489.96

INS § 10489.96 Effective Jan 1, 2017Div. 2 · Part 2 · Ch. 5 · Art. 3a

Statute text

(a)For policies issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required under subdivision (b) of Section 10489.12, except as provided under subdivision (e) or (g).

(b)(1) The operative date of the valuation manual is January 1 of the first calendar year following the first July 1 as of which all of the following have occurred:

(A)The valuation manual has been adopted by the NAIC by an affirmative vote of at least 42 members, or three-fourths of the members voting, whichever is greater.

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Legislative history

Amended by Stats. 2016, Ch. 86, Sec. 210. (SB 1171) Effective January 1, 2017.