Cal. Insurance Code § 4097.09
Cal. Insurance Code § 4097.09
California · California Insurance Code · Status: effective · Effective 1999-01-01
Cite this
- Citation
- Cal. Insurance Code § 4097.09, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/879080
- Permanent ID
ys:prov:879080@1- SHA-256
d4fb55f0b2f5c97e8d8716f69611d2ccaa4b747be8fa8650ada5da45009b81a9
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
No director, officer, agent, or employee of the mutual company shall receive any fee, commission, or other valuable consideration whatsoever, other than regular salary and compensation, for in any manner aiding, promoting, or assisting in the conversion except as set forth in the plan approved by the commissioner. This provision shall not be deemed to prohibit the payment of reasonable fees and compensation to attorneys at law, accountants, and actuaries for services performed in the independent practice of their professions, even though they may also be directors of the mutual company.