CHAPTER 12. Grants and Annuities Societies [11520. - 11524.]
Chapter 12 enacted by Stats. 1935, Ch. 145.
§§ 11520–11524 · 15 sections
- § 11520 The following organizations and persons may receive transfers of property, conditioned upon their agreement to pay an annuity to the transferor or the…
- § 11520.5 A person shall not transact in this state the business described in this chapter without first procuring a certificate of authority from the commissioner for…
- § 11520.6 (a) Before granting a certificate of authority or amended certificate of authority as a grants and annuities society to any applicant, the commissioner shall…
- § 11521 Upon granting to such organization or person a certificate of authority to receive such transfers, the commissioner shall require it to establish and maintain…
- § 11521.1 (a) The funds and other property, together with interest and dividends thereon and proceeds therefrom, conditioned upon issuance of the certificate holder’s…
- § 11521.2 (a) The reserve required by the table of commensurate values for each annuity contract issued must be invested in investments specified in Sections 1170…
- § 11521.3 (a) Prior to admission each applicant shall file with the commissioner an accurate and complete financial statement consisting of a balance sheet and income…
- § 11521.4 The commissioner may, in his discretion and after hearing, require the disposal of any investment made in violation of the provisions of this chapter; pending…
- § 11521.5 The commissioner may adopt reasonable rules and regulations as may be necessary to carry out the provisions of this chapter pursuant to the provisions of…
- § 11521.6 Nothing contained in Section 11521, 11521.1, 11521.2, 11521.4, 11523.6, or paragraph (6) of subdivision (a) of Section 11523 shall apply to any grants and…
- § 11522 Every organization or person holding a certificate of authority to receive transfers under this chapter shall make and file with the commissioner information…
- § 11523 (a) The annuity agreement shall show each of the following: (1) The value of the property transferred. (2) The amount of annuity agreed to be paid to the…
- § 11523.5 Any person holding a certificate of authority under this chapter may reinsure its total liability under an annuity agreement (as defined in Section 11523) with…
- § 11523.6 No grants and annuities society applying for admission to this state, or transacting in this state, the business described in this chapter shall transact or be…
- § 11524 Except as prescribed in this chapter, such organization or person shall be otherwise exempt from the provisions of this code and other insurance laws of this…