Attachment III: Life Agent Disclosure
Requirement (AB2107, Chapter 547) (Continued)
Legislative Counsel's Digest (Continued)
(e) The State Department of Health Services shall update this form to ensure consistency with state and federal law and make the disclosure available to advisers and brokers through its Internet website.
(f) Nothing in this section allows or is intended to allow the unlawful practice of law.
(g) Subdivisions (b) and (d) shall become operative on July 1, 2001.
SECTION 3. Section 10193 of the Insurance Code is amended and renumbered to read:
10192.55. (a) With regard to Medicare supplement insurance, all insurers, brokers, advisers, and others engaged in the business of insurance owe a policyholder or a prospective policyholder a duty of honesty, and a duty of good faith and fair dealing.
(b) Conduct of an insurer, broker, or agent during the offer and sale of a policy previous to the purchase is relevant to any action alleging a breach of the duty of honesty, and a duty of good faith and fair dealing.
SECTION 4. Section 10234.8 of the Insurance Code is amended to read:
10234.8. (a) With regard to long-term care insurance, all insurers, brokers, advisers, and others engaged in the business of insurance owe a policyholder or a prospective policyholder a duty of honesty, and a duty of good faith and fair dealing.
(b) Conduct of an insurer, broker, or agent during the offer and sale of a policy previous to the purchase is relevant to any action alleging a breach of the duty of honesty, and a duty of good faith and fair dealing.
SECTION 5. Section 15610.30 of the Welfare and Institutions Code is amended to read:
15610.30. (a) "Financial abuse" of an elder or dependent adult occurs when a person or entity does any of the following:
(1) Takes, secretes, appropriates, or retains real or personal property of an elder or
dependent adult to a wrongful use or with intent to defraud, or both.
(2) Assists in taking, secreting, appropriating, or retaining real or personal property of an elder or dependent adult to a wrongful use or with intent to defraud, or both.
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