This article establishes consumer protections in connection with retail sales practices, solicitations, advertising, or offers of any insurance product or annuity to a consumer by either of the following:

(a) Any depository institution, as defined in subdivision (b) of Section 760.

Terms Used In California Insurance Code 759

  • 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.
  • Consumer: means an individual who purchases, applies to purchase, or is solicited to purchase from a covered person insurance products or annuities primarily for personal, family, or household purposes. See California Insurance Code 760
  • Depository institution: means any of the following:

    California Insurance Code 760

  • Office: means the premises of a depository institution where retail deposits are accepted from the public. See California Insurance Code 760
  • Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19

(b) Any person who is engaged in those activities at an office of a depository institution or on behalf of a depository institution.

(Added by Stats. 2002, Ch. 203, Sec. 2. Effective January 1, 2003.)

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