California Insurance Code

§ 10509.7

INS § 10509.7 Effective Jan 1, 2018Div. 2 · Part 2 · Ch. 5 · Art. 8

Statute text

(a)If in the solicitation of a direct response sale, an insurer does not propose the replacement, and a replacement is involved, the insurer shall send to the applicant with the policy a replacement notice as described in subdivision (d) of Section 10509.4 or other substantially similar form approved by the commissioner. In those instances the insurer may delete the last sentence and the reference to signatures from the form without having to obtain approval of the form from the commissioner.

(b)If the insurer proposed the replacement it shall do the following:

(1)Provide to applicants or prospective applicants with or as part of the application a replacement notice as described in subdivision (d) of Section 10509.4.

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Legislative history

Amended by Stats. 2017, Ch. 417, Sec. 29. (AB 1696) Effective January 1, 2018.