California Insurance Code 1758.95 – (a) If a licensee or endorsee violates any provision of this …
(a) If a licensee or endorsee violates any provision of this article or any other provision of this code, the commissioner may do either of the following:
(1) After notice and hearing, suspend or revoke the license of the credit insurance agent.
Terms Used In California Insurance Code 1758.95
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- Credit insurance: includes credit life insurance, credit disability insurance, credit involuntary unemployment insurance, credit loss-of-income insurance, credit property insurance, or guaranteed asset protection (GAP) insurance. See California Insurance Code 1758.992
- insurance agent: as used in this chapter does not include a life agent as defined in this article. See California Insurance Code 1621
- license: includes a certificate of convenience and a permanent license, and the term "persons who are licensed" includes the holders of any such certificate or the license, but these definitions and the use of those terms in this chapter shall not confer upon a certificate of convenience or any holder thereof any property right in or to the certificate, the certificate being and remaining only a temporary permit, issued as a matter of convenience, allowing the transaction of insurance without a permanent license, but within the limits, and subject to the conditions of the certificate of convenience issued and the laws applicable thereto. See California Insurance Code 1627
- licensee: means an insurer, agent, broker, or any other person who is required to be licensed by the department. See California Insurance Code 38.6
- organization: means any legal entity other than a natural person. See California Insurance Code 1628
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
(2) After notice and hearing, impose other penalties that the commissioner deems necessary and convenient to carry out the purposes of this code, including suspending the privilege of transacting credit insurance pursuant to this article at specific business locations where violations have occurred, imposing fines on the credit insurance agent, individual endorsees or endorsee managers, and suspending or revoking the endorsement of a named endorsee or endorsee manager.
(b) If any person or persons sell insurance in connection with or incidental to a loan or other extension of credit or hold themselves or an organization out as a credit insurance agent without obtaining the license required by this article, as being an endorsee when that person is not an endorsee, or as being licensed pursuant to Chapter 5 (commencing with Section 1631) without obtaining that license, the commissioner may issue a cease and desist order pursuant to Section 12921.8.
(c) Notwithstanding any other provision of law to the contrary, the provisions of Section 1748.5 are applicable to both the organization issued a license pursuant to this article and any endorsee to that license.
(Amended by Stats. 2021, Ch. 133, Sec. 38. (SB 272) Effective July 23, 2021.)