California Insurance Code

§ 757

INS § 757 Effective Sep 30, 1989Div. 1 · Part 2 · Ch. 1 · Art. 5.1

Statute text

When a statement of the amount or segregation of a payroll is materially false, and an insurer, through a person employed by it in a managerial capacity, accepts the statement as the basis for the premium on a policy, the acceptance is an unlawful act if the accepting employee knows of the falsity.

Legislative history

Added by Stats. 1989, Ch. 1099, Sec. 1. Effective September 30, 1989.