California Insurance Code

§ 1781.3

INS § 1781.3 Effective Jan 1, 2018Div. 1 · Part 2 · Ch. 6.5

Statute text

(a)No person, firm, association, or corporation shall act as a reinsurance intermediary-broker in this state unless licensed as follows:

(1)If the reinsurance intermediary-broker maintains an office, (either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation) in this state, the reinsurance intermediary-broker shall be a licensed producer in this state.

(2)If the reinsurance intermediary-broker does not maintain an office in this state, the reinsurance intermediary-broker shall be a licensed producer in this state or another state having a law substantially similar to this chapter or shall be licensed in this state as a nonresident reinsurance intermediary.

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Legislative history

Amended by Stats. 2017, Ch. 534, Sec. 48. (AB 1699) Effective January 1, 2018.