Cal. Code Regs. tit. 10 § 2548.12

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 2548.12 - Disclosures Required at the Time of Application

Any person brokering a life settlement shall provide the disclosures listed at Insurance Code section 10113.2(d) no later than the time of an owner's application for a life settlement. The life settlement broker may but is not required to use the form captioned "Life Settlement Licensee Disclosure to Life Settlement Applicant" at section 2548.28 herein. For those transactions in which there is no life settlement broker, the provider shall provide the disclosures listed in Insurance Code section 10113.2(d) and may, but is not required to use the form at section 2548.28 herein.

Cal. Code Regs. Tit. 10, § 2548.12

1. New section filed 7-29-2010 as an emergency; operative 7-29-2010. Emergency regulation shall remain in effect, not to be repealed by the Office of Administrative Law, unless repealed by the Department of Insurance pursuant to Insurance Code section 10113.35 (Register 2010, No. 31).
2. Change without regulatory effect amending NOTE filed 1-24-2012 pursuant to section 100, title 1, California Code of Regulations (Register 2012, No. 4).
3. Renumbering of former section 2548.12 to section 2548.13 and renumbering and amendment of former section 2548.11 to new section 2548.12 filed 11-25-2014; operative 1-1-2015 (Register 2014, No. 48).

Note: Authority cited: Section 10113.35, Insurance Code; CalFarm Ins. Co. v. Deukmejian, 48 Cal.3d 805 (1989); 20th Century Ins. Co. v. Garamendi, 8 Cal.4th 216 (1994). Reference: Section 10113.2, Insurance Code.

1. New section filed 7-29-2010 as an emergency; operative 7-29-2010. Emergency regulation shall remain in effect, not to be repealed by the Office of Administrative Law, unless repealed by the Department of Insurance pursuant to Insurance Code section 10113.35 (Register 2010, No. 31).
2. Change without regulatory effect amending Note filed 1-24-2012 pursuant to section 100, title 1, California Code of Regulations (Register 2012, No. 4).
3. Renumbering of former section 2548.12 to section 2548.13 and renumbering and amendment of former section 2548.11 to new section 2548.12 filed 11-25-2014; operative 1/1/2015 (Register 2014, No. 48).