California Insurance Code 10490.2 – If an association described in Section 10490.1 has operated pursuant …
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If an association described in Section 10490.1 has operated pursuant thereto since January 1, 1945, it may procure a certificate of exemption from the commissioner upon meeting all of the requirements of this article relating thereto except those of Section 10494. Thereafter such association shall be subject to:
(a) All of the requirements of this article relating to an association holding a certificate of exemption except Section 10494, and
Terms Used In California Insurance Code 10490.2
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
(b) The limitations of Section 10490.1, except that it may pay disability benefits in amounts not exceeding three thousand six hundred dollars ($3,600) in the aggregate in any one calendar year on account of the disability of any one person.
(Added by Stats. 1953, Ch. 1356.)