California Insurance Code

§ 769.56

INS § 769.56 Effective Jan 1, 2021Div. 1 · Part 2 · Ch. 1 · Art. 5.3

Statute text

(a)A material change made by a health insurer, as defined in subdivision (b) of Section 106, to the terms and conditions of a contract between the health insurer and a life and accident and health or sickness agent shall not become effective until the health insurer has delivered to the life and accident and health or sickness agent, at least 45 days prior to the effective date of the change, written or electronic notice indicating the change or changes to the contract. For purposes of this section, a “material change” is a change made to a provision of the contract affecting any of the following:

(1)Commissions, bonuses, and incentives paid to the life and accident and health or sickness agent.

(2)Right of survivorship.

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Legislative history

Amended by Stats. 2020, Ch. 184, Sec. 2. (SB 1255) Effective January 1, 2021.