SB 1205, as introduced, Monning. Insurance.
Under existing law, policy of residential property insurance may not be issued in the state by an insurer unless the named insured is provided a copy of the California Residential Property Insurance disclosure statement. A policy insuring an individually owned condominium that provides dwelling structure coverage is required to include a copy of that disclosure statement.
This bill would make a technical, nonsubstantive change 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 10104 of the Insurance Code is amended
2to read:
(a) As used in this chapter, “policy of residential
4property insurance” shall have the same meaning as defined in
5Section 10087, except that it shall not include a tenant’s policy, a
6policy covering individually owned mobilehomes and their
7contents, a renter’s policy, or a policy insuring individually owned
8condominium units, when those policies do not provide dwelling
9structure coverage. If a policy insuring an individually owned
P2 1condominium does provide dwelling structure coverage, an insurer
2begin delete is required toend deletebegin insert shallend insert provide the disclosure required in this chapter.
3(b) As used in this chapter, “insurer” shall have the same
4meaning as defined in Section 10091.
O
99