Cal. Ins. Code § 12374

Current through the 2024 Legislative Session.

Section 12374 - Loan from assets to officer, director or employee

Except as otherwise authorized by subdivision (g) of Section 1105, a title insurer shall not directly or indirectly make a loan from its assets to any of its officers, directors or employees, or to any member of the family of any officer or director. Any officer, director, agent, or employee of any such insurer who knowingly consents to any violation of this section is guilty of a misdemeanor.

Ca. Ins. Code § 12374

Amended by Stats. 1981, Ch. 55, Sec. 3.