Bill Text: CA SB1003 | 2015-2016 | Regular Session | 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)AnyA person on whom he or she depends wholly or in part for education or support. (c)AnyA 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)AnyA person upon whose life any estate or interest vested in him or her depends.