Bill Text: CA AB207 | 2019-2020 | Regular Session | Introduced
Bill Title: Insurance licensing.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2019-05-16 - Referred to Com. on INS. [AB207 Detail]
Download: California-2019-AB207-Introduced.html
CALIFORNIA LEGISLATURE—
2019–2020 REGULAR SESSION
Assembly Bill | No. 207 |
Introduced by Assembly Member Daly |
January 14, 2019 |
An act to amend Section 1633 of the Insurance Code, relating to insurance.
LEGISLATIVE COUNSEL'S DIGEST
AB 207, as introduced, Daly.
Insurance licensing.
Existing law generally regulates the business of insurance in the state, including the licensing of persons who transact insurance. Existing law prohibits a person from soliciting, negotiating, or effecting a contract of insurance without a valid license from the Insurance Commissioner, and makes transacting insurance without a valid license punishable as a misdemeanor by imprisonment in a county jail for not more than one year, a fine of not more than $50,000, or both that fine and imprisonment.
This bill would increase the maximum fine for transacting insurance without a valid license to $70,000.