§ 10509.940 This act shall be known and may be cited as the Unclaimed Life …
§ 10509.941 The purpose of this article is to provide standards …
§ 10509.942 For purposes of this article:(a) “Annuity contract” does not …
§ 10509.943 (a) This article applies to an in-force policy, annuity …
§ 10509.944 (a) An insurer shall comply with the following requirements for …
§ 10509.945 (a) Failure to meet a requirement of this article knowingly or …
§ 10509.946 The provisions of this article are severable. If any provision of …

Terms Used In California Codes > Insurance Code > Division 2 > Part 2 > Chapter 5 > Article 12 - Unclaimed Life Insurance and Annuities Act

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • department: means State Department of Health Services. See California Health and Safety Code 20
  • Director: means "State Director of Health Services. See California Health and Safety Code 21
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
  • State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
  • Statute: A law passed by a legislature.