California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 1 - Production of Insurance
Article 4.5 - Procedures Governing Persons Subject to Title 18 United States Code Section 1033
Section 2175.5 - Responsibility of Insurers and Other Employers to Identify Prohibited Persons
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) It is the responsibility of insurers and of any other employer engaging in, or transacting the business of insurance to make a diligent effort to identify Prohibited Persons and to ensure that Prohibited Persons are not engaging in, or transacting, the business of insurance in violation of the Act and of these regulations. Insurers and other employers must actively seek to determine whether or not Prohibited Persons are in their employ and are engaging in or transacting the business of insurance.
(b) The existence of a valid license for a Prohibited Person does not waive, excuse, except or exempt an insurer or other employer from its responsibility under subdivision (a) nor the insurer's or other employer's ultimate responsibility for compliance with the provisions of the Act and these regulations.
(c) An insurer or employer must notify the Department of Insurance, in writing, of any Prohibited Person who is engaged in the business of insurance without Written Consent.
1. New section filed 3-10-2003; operative 4-9-2003 (Register 2003, No. 11).
Note: Authority cited: Sections 1723 and 1742.2, Insurance Code Reference: Sections 1723 and 1742.2, Insurance Code; and 18 U.S.C. § 1033.
