PART 7. HOME PROTECTION [12740. - 12764.]

Part 7 added by Stats. 1978, Ch. 1203.

§§ 12740–12764 · 19 sections

1. CHAPTER 1. Definitions and Licensing §§ 12740–12745 · 6 sections

   • § 12740 The definitions used in this section govern the construction and terms used in this part but shall not affect any other provisions of this code: (a) “Home…
   • § 12741 This part shall not apply to: (a) Performance guarantees or service contracts given by either the builder of a home or the manufacturer or seller of an…
   • § 12742 Home protection contracts and home protection companies, and all matters incident to or concerned with such contracts and companies, shall be exclusively…
   • § 12743 The following provisions of this code shall be applicable to home protection contracts and home protection companies: (a) Sections 1 to 46, inclusive. (b)…
   • § 12744 (a) No person shall issue or offer to issue home protection contracts in this state unless the person holds a home protection company license issued by the…
   • § 12745 (a) Any insurance holding company subject to Article 4.7 (commencing with Section 1215) of Chapter 2 of Part 2 of Division 1, one of whose affiliates is a home…
2. CHAPTER 2. Fiscal Requirements §§ 12750–12757 · 7 sections

   • § 12750 (a) A home protection company which has issued or renewed an aggregate number of 1,000 or less contracts in the preceding calendar year shall maintain a…
   • § 12751 Any home protection company which has issued and in force, prior to January 1, 1979, any contracts for home protection exempt from the provisions of this part…
   • § 12752 (a) A home protection company shall file an annual statement exhibiting its conditions and affairs in accordance with Sections 900, 900.5, 900.8, 900.9, 902,…
   • § 12753 (a) A home protection company shall maintain a reserve for unearned premiums in an amount not less than 40 percent of the aggregate premiums charged on its…
   • § 12755 A home protection company shall be deemed insolvent whenever its net worth is reduced below 50 percent of the amount required by Section 12750.
   • § 12756 A home protection company shall invest only in those assets defined in Article 3 (commencing with Section 1170) and Article 4 (commencing with Section 1190) of…
   • § 12757 The provisions of Article 14.2 (commencing with Section 1063) of Chapter 1 of Part 2 of Division 1, shall not be applicable to home protection companies.
3. CHAPTER 3. Other Provisions §§ 12760–12764 · 6 sections

   • § 12760 No home protection company shall pay a commission to any person as an inducement or compensation for the issuance, purchase or acquisition of a home protection…
   • § 12761 (a) The furnishing of a home protection contract without charge to any person shall constitute a violation of this part. No home protection contract providing…
   • § 12761.1 (a) A home protection company which was licensed as such on December 31, 1988, and as of that date was a franchisor of entities authorized by Section 771.1 to…
   • § 12762 (a) A home protection contract shall specify, in clear and conspicuous terms, the following information: (1) Each of the appliances, systems and components…
   • § 12763 No home protection contract shall be issued or delivered until a copy of the form thereof is filed with the commissioner. The commissioner may charge a fee for…
   • § 12764 (a) Any home protection contract shall be noncancellable during the initial term for which it was issued, except for: (1) Nonpayment of protection contract…