Cal. INS § 1235
This is the official text of Cal. INS § 1235, part of California’s Insurance Code — regulates insurance companies and the insurance policies sold in California.
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Official statutory text
The life insurer shall do all of the following:
(1) Notify the policyholder at the time a cash loan is made of the initial rate of interest on the loan.
(2) Notify the policyholder with respect to premium loans of the initial rate of interest on the loan as soon as it is reasonably practical to do so after making the initial loan. Notice need not be given to the policyholder when a further premium loan is added, except as provided in paragraph (3).
(3) Send to policyholders with loans reasonable advance notice of any increase in the rate.
(4) Include in the required notices the substance of the pertinent provisions of subdivision (a) of Section 1232 and Section 1233.
(1) Notify the policyholder at the time a cash loan is made of the initial rate of interest on the loan.
(2) Notify the policyholder with respect to premium loans of the initial rate of interest on the loan as soon as it is reasonably practical to do so after making the initial loan. Notice need not be given to the policyholder when a further premium loan is added, except as provided in paragraph (3).
(3) Send to policyholders with loans reasonable advance notice of any increase in the rate.
(4) Include in the required notices the substance of the pertinent provisions of subdivision (a) of Section 1232 and Section 1233.
Status: in_force · Read it on the official government site
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