Unless it operates under Section 11120, a society, or class or section thereof, shall collect from its members both stated contributions expressly segregated for the mortuary or disability funds and stated contributions expressly segregated for the expense or management funds. Both of such contributions may be included in the member’s periodical payment to the society. The society shall not use the money in the mortuary or disability funds nor the interest accretions thereon for expense purposes.
Cal. Ins. Code § 11121
Financial Matters
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Repealed and added by Stats. 1951, Ch. 1193.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.