Cal. Ins. Code § 12957

Current through the 2024 Legislative Session.
Section 12957 - Withdrawal of approval of policy previously approved

The commissioner shall not withdraw approval of a previously approved policy, except upon those grounds as, in the commissioner's opinion, would authorize disapproval upon original submission thereof. Any withdrawal of approval shall be in writing and shall specify the ground thereof. If the insurer demands a hearing on a withdrawal, the hearing shall be granted and commenced within 30 days of the filing of a written demand with the commissioner. Unless the hearing is commenced, the notice of withdrawal shall become ineffective upon the 31st day from and after the date of filing of the demand.

This section shall not apply to policies subject to the provisions of subdivision (f) of Section 10291.5, or to policies, contracts, or agreements that were approved under an alternative filing and approval procedure as provided for in subdivision (f) of Section 10506.4 or subdivision (c) of Section 10507.5.

Ca. Ins. Code § 12957

Amended by Stats 2021 ch 50 (AB 378),s 255, eff. 1/1/2022.
Amended by Stats 2009 ch 140 (AB 1164),s 134, eff. 1/1/2010.
Amended by Stats 2003 ch 352 (AB 444),s 3, eff. 1/1/2004.