Cal. Code Regs. tit. 10 § 2548.2

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

Section 2548.2 - Definitions

(a) As used in this article:

(1) Broker. A life settlement broker as defined at Insurance Code section 10113.1(b).

(2) Insured. The person covered under the policy to be settled as defined at Insurance Code section 10113.1(h).

(3) Life Insurance Producer. A life insurance producer as defined at Insurance Code section 10113.1(j).

(4) Life Settlement Contract. A life settlement contract as defined at Insurance Code Section 10113.1(k).

(5) Owner. A life insurance owner as defined at Insurance Code section 10113.1(m)

(6) Provider. A life settlement provider as defined at Insurance Code section 10113.1(r).

(7) Purchaser. A life settlement purchaser as defined at Insurance Code section 10113.1(s).

Cal. Code Regs. Tit. 10, § 2548.2

1. New section filed 12-22-2006; operative 1-21-2007 (Register 2006, No. 51).
2. Repealer and 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 Emergency regulation shall remain in effect, not to be repealed by the Office of Administrative Law, unless repealed by the Department of Insurance pursuant to Insurance Code section 10113.35 (Register 2010, No. 31).
3. Change without regulatory effect amending NOTE filed 1-24-2012 pursuant to section 100, title 1, California Code of Regulations (Register 2012, No. 4).
4. New subsections (a)(4) and (a)(7) and subsection renumbering 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 10113.1, Insurance Code.

1. New section filed 12-22-2006; operative 1-21-2007 (Register 2006, No. 51).
2. Repealer and 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 Emergency regulation shall remain in effect, not to be repealed by the Office of Administrative Law, unless repealed by the Department of Insurance pursuant to Insurance Code section 10113.35 (Register 2010, No. 31).
3. Change without regulatory effect amending Note filed 1-24-2012 pursuant to section 100, title 1, California Code of Regulations (Register 2012, No. 4).
4. New subsections (a)(4) and (a)(7) and subsection renumbering filed 11-25-2014; operative 1/1/2015 (Register 2014, No. 48).