California Insurance Code

§ 769

INS § 769 Effective Jan 1, 2000Div. 1 · Part 2 · Ch. 1 · Art. 5.3

Statute text

(a)After a written agency or written brokerage contract, where the broker-agent represents the insurer, has been in effect for at least one year, it shall not be terminated or amended by an insurer, except by mutual agreement, unless 120 days’ advance written notice has been given by the insurer to the broker-agent.

(b)The advance notice required by this section does not apply if the broker-agent has done any of the following:

(1)Exceeded his or her binding authority under the agency or brokerage contract.

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Legislative history

Amended by Stats. 1999, Ch. 753, Sec. 1. Effective January 1, 2000.