Bill Text: CA SB1003 | 2015-2016 | Regular Session | Introduced

California Senate Bill 1003 (Prior Session Legislation)

Introduced

Bill Title: Life and disability insurance.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2016-11-30 - From committee without further action. [SB1003 Detail]

Download: California-2015-SB1003-Introduced.html

BILL NUMBER: SB 1003	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Gaines

                        FEBRUARY 10, 2016

   An act to amend Section 10110 of the Insurance Code, relating to
insurance.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 1003, as introduced, Gaines. Life and disability insurance.
   Existing law provides that every person has an insurable interest,
as defined, with respect to life and disability insurance, in the
life and health of himself or herself, any person on whom he or she
depends wholly or in part for education or support, any person under
a legal obligation to him or her for the payment of money or
respecting property or services, of which death or illness might
delay or prevent the performance, or any person upon whose life any
estate or interest vested in him or her depends.
   This bill would make technical, nonsubstantive changes to that
provision.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 10110 of the Insurance Code is amended to read:

   10110.  Every person has an insurable interest in the life and
health of:
   (a)  Himself.   Himself or herself. 
   (b)  Any   A  person on whom he  or
she depends wholly or in part for education or support.
   (c)  Any   A  person under a legal
obligation to him  or her  for the payment of money or
respecting property or services, of which death or illness might
delay or prevent the performance.
   (d)  Any   A  person upon whose life any
estate or interest vested in him  or her  depends.