On Sep. 9, CAL LEG passed bill updating various insurance provisions.
CAL LEG passed bill SB 577, updating insurance provisions re life insurance training, civil actions, complaints, legal notices, and makes technical change to correct errors.
Existing law requires a life agent to complete specified hours of life insurance training courses before soliciting consumers to sell these policies and for renewing a license.
The bill clarifies training provisions for life agents apply to life agents selling individual life insurance policies and individual variable life insurance policies, as specified.
Authorizes service of legal process, notices, or other papers to be made in specified circumstances by delivering 2 copies to commissioner; payment set by commissioner.
Commissioner authorized to proceed with civil action even if district attorney is not.
Eliminates the requirement that the district attorney or commissioner give their reasons for consenting to dismissal of an action brought by an interested person.
Clarifies that a complaint filed by an interested person is required to remain under seal for at least 60 days from the date of service on the district attorney and commissioner.
Requires association to renew certificate of authority within 30 days after a change.
Makes technical changes to eliminate outdated references and correct errors.
Legislative History
On Feb. 15, 2024, bill introduced in the Senate; on May 25, 2024, bill passed Senate.
On May 25, 2024, bill introduced in Assembly; on Aug. 15, 2024, bill passed Assembly.
On Aug. 29, 2024, bill amendment concurred; on Sep. 9, 2024, delivered to Governor.
Effectiveness
If approved, bill takes effect on Jan. 1 of the year after bill enactment, Jan. 1, 2025.
Sep. 2024 CAL LEG Governor Approved
On Sep. 22, 2024, CAL LEG governor approved SB 577 designated Chapter 444.
