BILL NUMBER: SB 60	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Knight

                        DECEMBER 19, 2014

   An act to amend Section 10110 of the Insurance Code, relating to
insurance.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 60, as introduced, Knight. Insurance policies.
   Existing law defines "insurable interest" with respect to life and
disability insurance as an interest based upon a reasonable
expectation of pecuniary advantage through the continued life,
health, or bodily safety of another person and consequent loss by
reason of that person's death or disability or a substantial interest
engendered by love and affection in the case of individuals closely
related by blood or law. Existing law provides that a person has an
insurable interest in, among other things, the life and health of
himself or herself.
   This bill would make technical, nonsubstantive changes to those
provisions.
   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  or herself  .
   (b)  Any   A  person on whom he  or
she  depends wholly or in part for education or support.
   (c)  Any   A    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)  Any   A  person upon whose life any
estate or interest vested in him  or her  depends.