Cal. Ins. Code § 703

Current through the 2024 Legislative Session.

Section 703 - Misdemeanors relating to nonadmitted insurers

Except when performed by a surplus line broker, the following acts are misdemeanors when done in this state:

(a) Acting as agent for a nonadmitted insurer in the transaction of insurance business in this state for a home state insured as defined in subdivision (f) of Section 1760.1.

(b) In any manner advertising a nonadmitted insurer in this state.

(c) In any other manner aiding a nonadmitted insurer to transact insurance business in this state for a home state insured as defined in subdivision (f) of Section 1760.1.

In addition to any penalty provided for commission of misdemeanors, a person violating any provision of this section shall forfeit to this state the sum of five hundred dollars ($500), together with one hundred dollars ($100) for each month or fraction thereof during which he or she continues the violation. This section shall not apply to advertising authorized by Section 703.1, subdivision (h) of Section 1760.5, or Section 1773.

Ca. Ins. Code § 703

Amended by Stats 2011 ch 83 (AB 315),s 5, eff. 7/13/2011, op. 7/21/2011.

Amended by Stats 2001 ch 448 (SB 1136), s 2, eff. 1/1/2002.