California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 2. CLASSES OF INSURANCE |
Part 2. LIFE AND DISABILITY INSURANCE |
Chapter 5. General Regulation of Life Insurers |
ARTICLE 1. Restrictions on Business |
Section 10430.
Latest version.
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An admitted life insurer shall not issue or deliver in this State, any securities or any special or advisory board or other contracts of any kind promising returns and profits as an inducement to insurance nor shall it permit its agents, officers or employees to do so.
(Enacted by Stats. 1935, Ch. 145.)