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California Insurance Code

§ 1101

INS § 1101 Effective Jan 1, 2018Div. 1 · Part 2 · Ch. 1 · Art. 17

Statute text

View on leginfo.ca.gov
(a)An admitted insurer’s officers, directors, trustees, and any persons who have authority in the management of the insurer’s funds, shall not, unless otherwise provided in this code:
(1)Receive any money or valuable thing for negotiating, procuring, recommending, or aiding in, any purchase by or sale to such insurer of any property, or any loan from such insurer.
(2)Be pecuniarily interested as principal, coprincipal, agent, attorney, or beneficiary, in any such purchase, sale, or loan.
…

Legislative history

Amended by Stats. 2017, Ch. 534, Sec. 21. (AB 1699) Effective January 1, 2018.

Source: California Insurance Code § 1101 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.