Cal. INS § 1104
This is the official text of Cal. INS § 1104, part of California’s Insurance Code — regulates insurance companies and the insurance policies sold in California.
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Official statutory text
An admitted insurer shall not make any loan, other than a policy loan, to any officer, director, trustee or other person having authority in the management of its funds, nor shall such officer, director, trustee or other person accept any such loan.
This section does not prohibit a loan to, or for the benefit of, an employee for the purpose of paying the premiums on a life insurance policy on the life of such employee.
This section does not prohibit a loan to, or for the benefit of, an employee for the purpose of paying the premiums on a life insurance policy on the life of such employee.
Status: in_force · Read it on the official government site
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