California Insurance Code 1216 – This article may be cited as the Business Transacted with Producer …
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This article may be cited as the Business Transacted with Producer Controlled Insurer Act.
(Added by Stats. 1992, Ch. 614, Sec. 7. Effective January 1, 1993.)
Terms Used In California Insurance Code 1216
- controlled: has the meaning ascribed in Section 1215. See California Insurance Code 1216.1
- insurer: means any person, firm, association, or corporation admitted to transact any property or casualty insurance business in this state. See California Insurance Code 1216.1
- Producer: means a fire and casualty licensee or licensees or any other person, firm, association, or corporation, when, for any compensation, commission, or other thing of value, the person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation. See California Insurance Code 1216.1