Section 11122.1.
Cal. Insurance Code - INS § 11122.1.
in effectA society may, if authorized by a resolution of its supreme legislative or governing body, establish and operate one or more separate accounts and issue contracts on a variable basis to persons as specified in Section 11041, subject to compliance with the applicable laws. To the extent a society finds it necessary to comply with federal or state law, or regulations issued under state or federal law, a society may do the following:
(a)
Adopt special procedures for conducting the business of the separate account.
(b)
Provide special voting and other rights for a person with a beneficial interest in the special account, including, but not limited to, rights and procedures relating to investment policy, investment advisory services, selecting certified public accountants, and selecting a committee to manage the account.
(c)
Issue contracts on a variable basis that are exempted from the requirements of Sections 11062, 11064, and 11065.
References
referencesCal. Insurance Code - INS § 11041.
referencesCal. Insurance Code - INS § 11062.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026