California Insurance Code 1662 – A property broker-agent, a casualty broker-agent, and a personal …
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A property broker-agent, a casualty broker-agent, and a personal lines broker-agent shall, prior to acting in the capacity of an insurance broker, file with the commissioner and continuously maintain in force the bond required by this article. Any authority to act as broker shall automatically terminate immediately upon there being no bond in force.
(Amended by Stats. 2017, Ch. 417, Sec. 14. (AB 1696) Effective January 1, 2018.)
Terms Used In California Insurance Code 1662
- Casualty broker-agent: means a person licensed pursuant to Section 1625. See California Insurance Code 33.5
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- Insurance broker: means a person who, for compensation and on behalf of another person, transacts insurance other than life, disability, or health with, but not on behalf of, an insurer. See California Insurance Code 33
- Property broker-agent: means a person licensed pursuant to Section 1625. See California Insurance Code 33.5