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 11. Life Insurance Proceeds Disclosure Act of 2011 |
Section 10509.936.
Latest version.
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If the life insurance benefits are placed in a retained asset account, the insurer shall send the beneficiary at least one statement per quarter, and a statement for any month in which there has been account activity other than just the crediting of interest.
(Added by Stats. 2011, Ch. 130, Sec. 1. Effective January 1, 2012.)