Cal. Code Regs. tit. 22 § 50475

Current through Register 2024 Notice Reg. No. 24, June 14, 2024

Section 50475 - Life Insurance

Life insurance policies, except term insurance, owned by a member of the MFBU on the life of any individual in the family shall be exempt if the combined face value of all of the policies on the insured individual is $1,500 or less. If the combined face value of all of the policies exceeds $1,500, the net cash surrender value of life insurance policies shall be included in the property reserve.

Cal. Code Regs. Tit. 22, § 50475

1. Amendment filed 6-3-87; operative 7-3-87 (Register 87, No. 24).
2. Editorial correction of printing error (Register 89, No. 16).

Note: Authority cited: Sections 10725 and 14124.5, Welfare and Institutions Code. Reference: Section 14006, Welfare and Institutions Code.

1. Amendment filed 6-3-87; operative 7-3-87 (Register 87, No. 24).
2. Editorial correction of printing error (Register 89, No. 16).