Cal. INS § 10509.932
This is the official text of Cal. INS § 10509.932, part of California’s Insurance Code — regulates insurance companies and the insurance policies sold in California.
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Official statutory text
The purpose of this act is to establish disclosure standards regarding the payment of life insurance benefits to a beneficiary by means of a retained asset account if a life insurance company offers consumers a retained asset account or establishes such an account as an alternative to the receipt of insurance proceeds by a single payment made directly to the beneficiary that satisfies all of the benefits owed to the beneficiary.
Status: in_force · Read it on the official government site
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