California Insurance Code ARTICLE 7 - Financial Matters

• Section 11120.
  When a society, or a class or section thereof, has assets equal to the reserves and credits on its policies, it may collect periodical or...
• Section 11121.
  Unless it operates under Section 11120, a society, or class or section thereof, shall collect from its members both stated contributions expressly segregated for the...
• Section 11122.
  Any society may create, maintain, invest, disburse and apply any special fund or funds necessary to carry out any purpose permitted by the laws of...
• Section 11122.1.
  A society may, if authorized by a resolution of its supreme legislative or governing body, establish and operate one or more separate accounts and issue...
• Section 11123.
  Any such society may own real estate and buildings within or without the state of its incorporation, for any purposes for which it may use...
• Section 11124.
  Unless otherwise provided in the contracts of the members, such funds shall be held, invested, and disbursed for the use and benefit of the society,...
• Section 11125.
  Every domestic society shall invest its funds only in securities permitted by the laws of this State for the investment of the assets of life...
• Section 11126.
  An admitted foreign society shall invest its funds either under the same restrictions as domestic societies or in accordance with the laws of the state...
• Section 11127.
  An admitted foreign society organized under the laws of any jurisdiction other than a state of the United States shall at all times maintain with...
• Section 11128.
  The value of the trusteed assets referred to in Section 11127 shall be equal to the sum of all of the following:(a) All of the indebtedness...
• Section 11129.
  The provisions of Sections 1596 to 1598, inclusive, shall apply to such society specified in Section 11127 and to the matters set forth in Sections...
• Section 11130.
  The commissioner may require any society specified in Section 11127 to file with him annually and at such other times as he may determine, and...
• Section 11131.
  Every society transacting business in this state shall annually, on or before the first day of March, unless for cause shown such time has been...
• Section 11132.
  A synopsis of its annual statement and valuation report providing an explanation of the facts concerning the condition of the society thereby disclosed shall be...
• Section 11133.
  In addition to the annual report required by Section 11131, each society shall annually, on or before the first day of March, file with the...
• Section 11134.
  Except as otherwise provided in Section 10489.6, reserves according to the commissioners’ reserve valuation method, for the life insurance and endowment benefits of certificates providing...
• Section 11135.
  The present value of deferred payments due under incurred claims or matured certificates shall be deemed a liability of the society and shall be computed...
• Section 11136.
  Except as otherwise provided in Section 10489.4, such valuation shall be certified by a competent actuary or, at the expense of the society, verified by...
• Section 11137.
  Whenever the commissioner finds from any financial statement or valuation report made to him or her by any society authorized to do business in this...
• Section 11138.
  The commissioner, or any person he may appoint, shall have the power of visitation and examination into the affairs of any domestic society. He may...
• Section 11139.
  No report of examination shall be adopted by the commissioner or filed by him as an official document except after a notice is given and...
• Section 11140.
  The commissioner, or any person whom he may appoint, may examine any foreign society, transacting or applying for admission to transact business in this State....
• Section 11141.
  Pending, during or after an examination or investigation of a society, either domestic or foreign, the commissioner shall make public no financial statement, report or...
• Section 11142.
  No person shall cause or permit to be made, issued or circulated in any form:(a) Any misrepresentation or false or misleading statement concerning the terms, benefits...
• Section 11143.
  A comparison of insurance contracts is incomplete if it does not compare in detail:(a) The gross rates, and the gross rates less any dividend or other...
• Section 11144.
  A comparison of insurance contracts is incomplete if it omits from consideration:(a) Any benefit or value provided in the contract,(b) Any differences as to amount or period...
• Section 11145.
  In any determination of the incompleteness or misleading character of any comparison or statement, it shall be presumed that the insured had no knowledge of...
• Section 11146.
  Any person who violates any provision of Sections 11142 to 11145 or knowingly receives any compensation or commission by or in consequence of such violation,...

Last modified: October 22, 2018