§ 2248.33. Classes of Business.

“Class of Business” means credit insurance providing coverage within one of the following groupings:

Class A. Industrial Banks - credit insurance subject to Financial Code §§ 18290-18292; California Finance Lenders - credit insurance subject to Financial Code §§ 22314 and 22315. (“Regulated loans.”)

Class B. All business not otherwise classified.

Class C. Credit unions, subdivided by occupation group. Where the members of a credit union are classifiable in more than one occupation group, the credit union will be classified according to the grouping applicable to at least 60% of its members. Where this is not possible, the credit union shall be assigned to Occupation Group II.

Occupation Group I - Office Workers and Professionals. This group includes, but is not limited to, credit unions comprised of office workers and professionals employed by, or members of:

(1) Churches or religious organizations;

(2) Cooperatives;

(3) Communications industry including radio, television and telephone;

(4) Educational institutions, associations or services;

(5) Financial institutions, associations or services;

(6) Fraternal and civic groups;

(7) Government office workers (federal, state and local) excluding those related to police, fire protection, military service or postal service;

(8) Legal services;

(9) Medical institutions, associations or services;

(10) Labor unions associated with the respective occupation group served.

Occupation Group II - Light Industry, Security Services, Postal Workers. This group includes, but is not limited to, credit unions comprised of skilled and semi-skilled workers and professionals employed by, or members of:

(1) Agriculture and forestry industries;

(2) Airlines which are regularly scheduled;

(3) Apparel and garment industry;

(4) Appliance manufacturing industry;

(5) Chemical and drug industry;

(6) Construction industry (excluding unskilled laborers);

(7) Entertainment and recreation industries;

(8) Fire protection organizations;

(9) Food processing industries including meat packing, dairy, canning, beverage and grain;

(10) Government employees with inspection duties;

(11) Military and police services;

(12) Postal workers;

(13) Printing industry;

(14) Repair and maintenance industries;

(15) Tobacco industry;

(16) Labor unions associated with the respective occupation group served.

Occupation Group III - Heavy Industry and Transportation. This group includes all credit unions whose membership includes unskilled laborers or which include employees of, or members of:

(1) Automobile, truck, farm implement and equipment manufacturing industries;

(2) Leather and furniture products industry;

(3) Lumber and paper mill industry;

(4) Machinery manufacturing industry;

(5) Metal products, primary or fabricated, industry including foundries, container manufacturers, casting and drop forges, etc.;

(6) Mining industry;

(7) Ordnance industry;

(8) Petroleum, rubber and plastic products industries;

(9) Stone, clay and gypsum products industries;

(10) Transportation including nonscheduled airlines, bus, longshoreman, ocean and inland waterways, railways, urban transit, teamsters but excluding regularly scheduled airlines;

(11) Labor unions affiliated with respective occupation group served.

Class D. Finance companies - installment sales finance; Industrial Banks and California Finance Lenders - loans other than Class A or Class E.

Class E. Banks and savings and loan associations - home improvement loans, other loans secured by real estate, and mobile home loans; mobile home dealers; home improvement contractors and dealers (including swimming pool dealers); Industrial Banks and California Finance Lenders - loans secured by real estate; land development companies - loans secured by real estate; mortgage loan companies specializing in second trust deeds.

Class F. Banks and production credit associations - agricultural and horticultural loans.

HISTORY

1. New section 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).

2. Amendment of section and Note filed 10-2-2001; operative 10-1-2001. Submitted to OAL for printing only pursuant to Government Code section 11340.9(g) (Register 2001, No. 40).

3. Editorial correction of second and fourth paragraphs (Register 2001, No. 49).

Note

Note: Authority cited: Sections 779.21 and 779.36, Insurance Code. Reference: Sections 779.4, 779.9 and 779.36, Insurance Code; Sections 18191, 18290-18292, 22314, 22315 and 22455, Financial Code; and Credit Insurance General Agents Association v. Payne, (1976) 16 Cal.3d 651.