California Insurance Code

§ 12340.8

INS § 12340.8 Effective Jan 1, 1993Div. 2 · Part 6 · Ch. 1 · Art. 1

Statute text

“Advisory organization” means every person or entity (other than a title insurer, underwritten title company, or controlled escrow company) which recommends or prepares policy forms or endorsements, or procedural manuals (but not including the making of rates, rating plans, or rating systems), or which collects and furnishes to its members or insurance supervisory officials loss and expense statistics or other statistical information and data relating to the business of title insurance and who otherwise acts in an advisory, as distinguished from a ratemaking, capacity. No duly authorized attorney at law acting in the usual course of his profession nor any entity engaging in the above activity on a nationwide basis shall be deemed to be an advisory organization.

Legislative history

Amended by Stats. 1992, Ch. 991, Sec. 1. Effective January 1, 1993.