Ins. Code, § 1733 · Article 12. Conduct of Licensee
Ins. Code, § 1733
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
All funds received by any person acting as a licensee under this chapter, Chapter 5A (commencing with Section 1759), Chapter 6 (commencing with Section 1760), or Chapter 7 (commencing with Section 1800), as premium or return premium on or under any policy of insurance or undertaking of bail, are received and held by that person in that person’s fiduciary capacity. A person who diverts or appropriates those fiduciary funds to that person’s own use is guilty of theft and punishable for theft as provided by law. Any premium that a premium financer agrees to advance pursuant to the terms of a premium finance agreement shall constitute fiduciary funds as defined in this section only if actually received by a person licensed in one or more of the capacities herein specified.
Notes and commentary — not statutory text
History
Amended by Stats. 2021, Ch. 133, Sec. 21. (SB 272) Effective July 23, 2021.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=1733.
- Text hash
- sha256 df945f53ff7ac2e2fcd86cf5f4e4457844cd198b16c8098846cd83a8a049a0fa
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Insurance Code
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