California Insurance Code

§ 1668.1

INS § 1668.1 Effective Jan 1, 2004Div. 1 · Part 2 · Ch. 5 · Art. 6

Statute text

In addition to the grounds set forth in Section 1668, the following acts shall constitute cause to suspend or revoke any permanent license issued pursuant to this chapter:

(a)The licensee has induced a client, whether directly or indirectly, to cosign or make a loan, make an investment, make a gift, including a testamentary gift, or provide any future benefit through a right of survivorship to the licensee, or to any of the persons listed in subdivision (e).

(b)The licensee has induced a client, whether directly or indirectly, to make the licensee or any of the persons listed in subdivision (e) a beneficiary under the terms of any intervivos or testamentary trust or the owner or beneficiary of a life insurance policy or an annuity policy.

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Legislative history

Added by Stats. 2003, Ch. 546, Sec. 4. Effective January 1, 2004.