California Insurance Code ARTICLE 5.4 - Managing General Agents

• Section 769.80.
  This act shall be known and may be cited as the Managing General Agents Act.(Added by Stats. 1991, Ch. 686, Sec. 1.)
• Section 769.81.
  As used in this article:(a) “Actuary” means a person who is a member in good standing of the American Academy of Actuaries, the Casualty Actuarial Society,...
• Section 769.82.
  (a) No producer shall act in the capacity of an MGA with respect to risks located in this state for an insurer that holds a certificate...
• Section 769.83.
  No producer acting in the capacity of an MGA shall place business with an insurer unless there is in force a written contract between the...
• Section 769.84.
  (a) The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each MGA with which it has done...
• Section 769.85.
  The acts of the MGA are considered to be the acts of the insurer on whose behalf it is acting. An MGA may be examined...
• Section 769.86.
  (a) If the commissioner finds after hearing that any person has violated any provision of this article he or she may order any of the following:...
• Section 769.87.
  The commissioner may adopt reasonable rules and regulations for the implementation and administration of this article.(Added by Stats. 1991, Ch. 686, Sec. 1.)

Last modified: October 22, 2018