§ 757
53 words·~1 min read·
/ca/insurance-code/757A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a statement of the amount or segregation of a payroll is materially false, and an insurer, through a person employed by it in a managerial capacity, accepts the statement as the basis for the premium on a policy, the acceptance is an unlawful act if the accepting employee knows of the falsity.