California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 12.9 - Life Settlements
Section 2548.22 - Fees

Universal Citation: 10 CA Code of Regs 2548.22

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) An individual or business entity applying for the life settlement broker license shall pay a one-year license fee of $155.

(b) An individual or business entity licensed as life insurance producer who notifies the Commissioner that he or she is brokering life settlements shall pay a two-year notification fee of $154.

(c) An individual or business entity licensed as a life settlement broker shall pay a one-year renewal fee of $155.

(d) An individual or business entity licensed as a life insurance producer who notifies the Commissioner that he or she is brokering life settlements shall pay a two-year renewal fee of $154.

(e) No license application or notification for which the Commissioner does not receive payment of the appropriate fee or fees as specified in Section 2548.22 shall under any circumstances be accepted for filing.

(f) An individual applying for the life settlement broker license is responsible for paying to the Live Scan vendor including the vendor's rolling fee and the criminal history processing fees collected by the California Department of Justice and the Federal Bureau of Investigation.

1. New section filed 7-29-2010 as an emergency; operative 7-29-2010. Emergency regulation shall remain in effect, not to be repealed by the Office of Administrative Law, unless repealed by the Department of Insurance pursuant to Insurance Code section 10113.35 (Register 2010, No. 31).
2. Change without regulatory effect amending NOTE filed 1-24-2012 pursuant to section 100, title 1, California Code of Regulations (Register 2012, No. 4).
3. Renumbering of former section 2548.22 to section 2548.23 and renumbering and amendment of former section 2548.21 to new section 2548.22 filed 11-25-2014; operative 1-1-2015 (Register 2014, No. 48).

Note: Authority cited: Sections 10113.35 and 12978, Insurance Code; CalFarm Ins. Co. v. Deukmejian, 48 Cal.3d 805 (1989); 20th Century Ins. Co. v. Garamendi, 8 Cal. 4th 216 (1994). Reference: Section 10113.2, Insurance Code.

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