California Insurance Code 757 – When a statement of the amount or segregation of a payroll is …
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When a statement of the amount or segregation of a payroll is materially false, and an insurer, through a person employed by it in a managerial capacity, accepts the statement as the basis for the premium on a policy, the acceptance is an unlawful act if the accepting employee knows of the falsity.
(Added by Stats. 1989, Ch. 1099, Sec. 1. Effective September 30, 1989.)
Terms Used In California Insurance Code 757
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19