{"code":"INS","codeName":"Insurance Code","section":"10509.932","citation":"Ins. Code, § 10509.932","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. CLASSES OF INSURANCE [1880. - 12880.8.]","url":"https://blackletter.si/insurance-code/division-2"},{"name":"PART 2. LIFE AND DISABILITY INSURANCE [10110. - 11549.]","url":"https://blackletter.si/insurance-code/division-2/part-2"},{"name":"CHAPTER 5. General Regulation of Life Insurers [10430. - 10509.946.]","url":"https://blackletter.si/insurance-code/division-2/part-2/chapter-5"},{"name":"ARTICLE 11. Life Insurance Proceeds Disclosure Act of 2011 [10509.930. - 10509.938.]","url":"https://blackletter.si/insurance-code/division-2/part-2/chapter-5/article-11"}],"history":"Added by Stats. 2011, Ch. 130, Sec. 1.   (SB 713)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>The purpose of this act is to establish disclosure standards regarding the payment of life insurance benefits to a beneficiary by means of a retained asset account if a life insurance company offers consumers a retained asset account or establishes such an account as an alternative to the receipt of insurance proceeds by a single payment made directly to the beneficiary that satisfies all of the benefits owed to the beneficiary.</p>","text":"The purpose of this act is to establish disclosure standards regarding the payment of life insurance benefits to a beneficiary by means of a retained asset account if a life insurance company offers consumers a retained asset account or establishes such an account as an alternative to the receipt of insurance proceeds by a single payment made directly to the beneficiary that satisfies all of the benefits owed to the beneficiary.","otherVersions":[],"url":"https://blackletter.si/insurance-code/life-insurance-proceeds-disclosure-act-of-2011-10509-932","source":"California Legislative Information bulk export (pubinfo)"}