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California Insurance Code

§ 1104

INS § 1104Div. 1 · Part 2 · Ch. 1 · Art. 17

Statute text

View on leginfo.ca.gov
An admitted insurer shall not make any loan, other than a policy loan, to any officer, director, trustee or other person having authority in the management of its funds, nor shall such officer, director, trustee or other person accept any such loan. This section does not prohibit a loan to, or for the benefit of, an employee for the purpose of paying the premiums on a life insurance policy on the life of such employee.

Legislative history

Amended by Stats. 1963, Ch. 1929.

Source: California Insurance Code § 1104 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.