BILL NUMBER: AB 387	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  APRIL 30, 2015

INTRODUCED BY   Assembly Member McCarty

                        FEBRUARY 18, 2015

   An act to amend Section 10290 of the Insurance Code, relating to
insurance.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 387, as amended, McCarty. Insurance: disability policy:
commissioner approval.
   Existing law provides for the licensing and regulation of
disability insurers by the Department of Insurance. Existing law
prohibits a disability policy from being issued until certain
requirements are met. One of these conditions is if either (1) 30
days passes without notice from the Insurance Commissioner after a
copy of the policy is filed with the commissioner; or (2) the
commissioner gives written approval prior to the expiration of the 30
days.
   This bill would  clarify that the 30 days are 30 
 increase that time period to 120  calendar days.
   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 10290 of the Insurance Code is amended to read:

   10290.  A disability policy shall not be issued or delivered to
any person in this state until both of the following conditions are
met:
   (a) A copy of the form thereof and, if more than one class of
risks is written, of the classification of risks, and the premium
rates pertaining thereto are filed with the commissioner.
   (b) Either of the following occurs:
   (1)  Thirty   One hundred   twenty
 calendar days  expires   expire 
without notice from the commissioner after the copy is filed.
   (2) The commissioner gives his or her written approval prior to
that time.