§ 2248.3. Definitions.

As used in these regulations:

(a) “Credit life insurance,” “credit disability insurance creditor,” “debtor” and “indebtedness” have the meanings assigned to such terms in Section 779.2 of the Insurance Code.

(b) “Credit insurance” means both credit life insurance and credit disability insurance.

(g) “Application” means any document, including a conditional sales contract, which the debtor signs and which requests credit insurance coverage the debtor, or which authorizes the financing of credit insurance premium or agrees to pay credit insurance premiums.

(h) “Actuary,” as used in these regulations, means an actuary who is:

(1) a member of the American Academy of Actuaries, or of the Society of Actuaries or

(2) a person who has engaged in the practice of actuarial science and has demonstrated by his training and experience actuarial competence to the satisfaction of the Commissioner.

HISTORY

1. Amendment of subsections (e) and (h) filed 1-12-79; designated effective 4-1-79 (Register 79, No. 2).

2. Editorial correction of subsection designations (Register 79, No. 2).

3. Amendment filed 6-4-79; effective thirtieth day thereafter (Register 79, No. 23).

3. Repealer of subsections (c)-(f) filed 4-14-94; operative 5-16-94. Submitted to OAL for printing only pursuant to Government Code section 11343(a)(1) (Register 94, No. 15).

Note

Note: Authority cited: Section 779.21, California Insurance Code. Reference: Section 779.9, Insurance Code.