Bill Text: CA SB444 | 2017-2018 | Regular Session | Introduced

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Bill Title: Property insurance: insurable interest.

Sponsorship: Partisan Bill (Republican 1)

Status: (Failed) 2018-02-01 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB444 Detail]

Download: California-2017-SB444-Introduced.html

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CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Senate Bill

No. 444

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Introduced by Senator Gaines

February 15, 2017

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An act to amend Section 282 of the Insurance Code, relating to insurance.

LEGISLATIVE COUNSEL'S DIGEST

SB 444, as introduced, Gaines. Property insurance: insurable interest.

Existing law regulates insurance and the business of insurance in the state. Existing law provides that an insurable interest in property may consist in an existing interest, an inchoate interest founded on an existing interest, or an expectancy, coupled with an existing interest in that out of which the expectancy arises.

This bill would make nonsubstantive, technical changes to these provisions.

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 282 of the Insurance Code is amended to read:

282.

 An insurable interest in property may consist in:

1.(a) An existing interest; interest.

2.(b) An inchoate interest founded on an existing interest; or, interest.

3.(c) An expectancy, coupled with an existing interest in that out of which the expectancy arises.