There is a newer version of the California Code
2011 California Code
Insurance Code
DIVISION 2. CLASSES OF INSURANCE [1880 - 12865]
ARTICLE 11. Life Insurance Proceeds Disclosure Act of 2011
Section 10509.935
CA Ins Code § 10509.935 (through 2012 Leg Sess) What's This?
If the insurer settles life insurance benefits through a retained asset account, the insurer shall provide the beneficiary with a supplemental contract that clearly discloses the rights of the beneficiary and the obligations of the insurer under the supplemental contract.
(Added by Stats. 2011, Ch. 130, Sec. 1. Effective January 1, 2012.)
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