California Insurance Code 5063 – No such insurer may enter into any general agency or management …
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No such insurer may enter into any general agency or management contract whereby it authorizes or delegates to a person the right to assume virtual control of its operations or of the production of business for it in this State or any specified portion thereof.
(Added by Stats. 1955, Ch. 1250.)
Terms Used In California Insurance Code 5063
- Contract: A legal written agreement that becomes binding when signed.
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28