Ins. Code, § 1735.5 · Article 12. Conduct of Licensee
Ins. Code, § 1735.5
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
A property broker-agent, casualty broker-agent, or surplus line broker, hereinafter the “licensee,” may offset funds due an insured for return premiums on any policy against amounts due the licensee from the same insured for unpaid premiums on the same or any other policy. Any insurer may pay return premiums to any property broker-agent or any casualty broker-agent for that purpose. This section shall not invalidate an assignment of return premium made concurrently with policy issuance as security for financing that premium, nor the right of the assignee, or the assignee’s assign, to enforce the assignment as a prior claim.
Notes and commentary — not statutory text
History
Amended by Stats. 2021, Ch. 133, Sec. 24. (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=1735.5.
- Text hash
- sha256 a8535858bcc6bfe2d40627b8b5972cd78714f540a5a65f04d2f2b1e96403c30f
- 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
Cited by 1 provision
Provisions in this library whose text cites Ins. Code, § 1735.5. Each shows the citation as that text prints it.
Insurance Code
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