Insurance Code § 10509.935
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If the insurer settles life insurance benefits through a retained asset account, the insurer shall provide the beneficiary with a supplemental contract that clearly discloses the rights of the beneficiary and the obligations of the insurer under the supplemental contract.
(Added by Stats. 2011, Ch. 130, Sec. 1. (SB 713) Effective January 1, 2012.)