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CA AB487
Bill
Status
Passed
10/10/2025
Primary Sponsor
Insurance
Click for details
AI Summary
- Updates terminology in the Insurance Code by replacing "agent" with "stock agent" for persons who sell securities for insurers or brokers
- Removes fingerprint submission requirements for surplus line brokers, life and disability analysts, and variable life and variable annuity agents applying for licenses
- Expands the definition of "background information" that licensees must report to include administrative actions for unlicensed conduct and civil actions filed by government agencies alleging unlawful conduct
- Extends blanket insurance coverage eligibility to include volunteers at colleges, schools, sports teams, camps, and similar organizations for death, dismemberment, or medical expenses resulting from accidents
- Makes permanent the State Compensation Insurance Fund's authority to make discretionary investments in properties, securities, and money market mutual funds (previously set to expire January 1, 2027)
Legislative Description
Insurance.
Last Action
Chaptered by Secretary of State - Chapter 558, Statutes of 2025.
10/10/2025
Committee Referrals
Appropriations7/16/2025
Judiciary7/10/2025
Insurance6/18/2025
Rules6/4/2025
Appropriations4/2/2025
Insurance2/24/2025
Full Bill Text
No bill text available