California Insurance Code

§ 728

INS § 728 Effective Jan 1, 2007Div. 1 · Part 2 · Ch. 1 · Art. 3

Statute text

(a)For the purposes of this section, the following definitions are applicable:

(1)“Subject person” means any director, officer, or employee or other natural person who participates in the management, direction, or control of an insurer.

(2)“Insurer” means any domestic insurer, and any insurer which is admitted to transact insurance in this state, provided that if a subject person of an insurer is not a resident of California, or operating out of a place of business within California, then the subject person shall be engaged in the direct management, direction, or control of the insurer in California in order to come within the provisions of this section.

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Legislative history

Amended by Stats. 2006, Ch. 740, Sec. 3.2. Effective January 1, 2007.