Bill Text: CA AB703 | 2023-2024 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Residential property insurance: dog breeds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2024-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB703 Detail]

Download: California-2023-AB703-Introduced.html

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CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill

No. 703

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Introduced by Assembly Member Hart

February 13, 2023

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An act to amend Section 381 of the Insurance Code, relating to insurance.

LEGISLATIVE COUNSEL'S DIGEST

AB 703, as introduced, Hart. Insurance policies.

Existing law generally regulates the rules governing insurance and insurance contracts. Existing law requires an insurance policy to specify certain information, including the parties to the contract, the property or life insured, the risks insured against, and the coverage period.

This bill would make technical, nonsubstantive changes to that provision governing the policy.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 381 of the Insurance Code is amended to read:

381.

 A policy shall specify:

(a) The parties between whom the contract is made.

(b) The property or life insured.

(c) The interest of the insured in property insured, if he is they are not the absolute owner thereof.

(d) The risks insured against.

(e) The period during which the insurance is to continue.

(f) Either:

(1) A statement of the premium, or

(2) If the insurance is of a character where the exact premium is only determinable upon the termination of the contract, a statement of the basis and rates upon which the final premium is to be determined and paid.