Cal. Code Regs. tit. 10 § 2662.7

Current through Register 2024 Notice Reg. No. 49, December 6, 2024

Section 2662.7 - Time for Payment

(a) Any award payable by an applicant shall be paid within 30 days of the decision awarding compensation. If an insurance company fails to pay an award within 30 days, the insurance company shall also pay interest on the amount awarded, at the legal rate, until the date on which the award is paid.

(b) For the purpose of this section, the phrase "within 30 days" shall mean within 30 days after the Insurance Commissioner issues a decision awarding compensation, unless the insurance company submits a timely petition for reconsideration or judicial challenge of the decision or any part for which compensation is sought by the intervenor, in which case no payment shall be required until 30 days after a decision on reconsideration or judicial challenge.

Cal. Code Regs. Tit. 10, § 2662.7

1. New section filed 8-18-95 as an emergency; operative 8-18-95 (Register 95, No. 33). A Certificate of Compliance must be transmitted to OAL by 12-16-95 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 12-19-95 as an emergency; operative 12-19-95 (Register 95, No. 51). A Certificate of Compliance must be transmitted to OAL by 4-17-96 or emergency language will be repealed by operation of law on the following day.
3. Certificate of Compliance as to 12-19-95 order transmitted to OAL April 17, 1996; disapproved by OAL and order of repeal as to 12-19-95 order filed 5-30-96 (Register 96, No. 22).
4. New section filed 5-30-96 as an emergency; operative 5-30-96 (Register 96, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-27-96 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 5-30-96 order transmitted to OAL 9-26-96 and filed 11-5-96 (Register 96, No. 45).

Note: Authority cited: Section 1861.10, Insurance Code; and CalFarm Insurance Company, et al. v. George Deukmejian, et al., 48 Cal.3d 805, 824 (1989), 20th Century Insurance Company v. John Garamendi, 8 Cal.4th 216, 281, 32 Cal. Rptr. 2d 807, 847 (1994). Reference: Sections 1861.10(a) and 1861.10(b), Insurance Code; and CalFarm Insurance Company, et al. v. George Deukmejian, et al., 48 Cal.3d 805 (1989), 20th Century Insurance Company et al. v. John Garamendi 8 Cal. 4th 216, 32 Cal. Rptr. 2d 807 (1994).

1. New section filed 8-18-95 as an emergency; operative 8-18-95 (Register 95, No. 33). A Certificate of Compliance must be transmitted to OAL by 12-16-95 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 12-19-95 as an emergency; operative 12-19-95 (Register 95, No. 51). A Certificate of Compliance must be transmitted to OAL by 4-17-96 or emergency language will be repealed by operation of law on the following day.
3. Certificate of Compliance as to 12-19-95 order transmitted to OAL April 17, 1996; disapproved by OAL and order of repeal as to 12-19-95 order filed 5-30-96 (Register 96, No. 22).
4. New section filed 5-30-96 as an emergency; operative 5-30-96 (Register 96, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-27-96 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 5-30-96 order transmitted to OAL 9-26-96 and filed 11-5-96 (Register 96, No. 45).