California § 2944.5. 2944.5. (Added by Stats. 1993, Ch. 522, Sec. 1.)

California Statutes

§ 2944.5. — 2944.5. (Added by Stats. 1993, Ch. 522, Sec. 1.)

California·Code CIV Civil Code - CIV·Div. 3. DIVISION 3. OBLIGATIONS·Title 14.·Part 4. TITLE 14. LIEN·Ch. 2. CHAPTER 2. Mortgage·Art. 1. ARTICLE 1. Mortgages in General

No lender, mortgagee, or any third party having an interest in real or personal property shall refuse to accept a policy issued by an admitted insurer solely because the policy is issued for a continuous period without a fixed expiration date even though the policy premium is due and payable every six months, provided the lender, mortgagee, or third party is entitled to receive (a) notice of renewal from the insurer within 15 days of receipt of payment on the policy by the insured or (b) notice of cancellation or nonrenewal under the terms and conditions set
  forth in Sections 678 and 2074.8 of the Insurance Code, whichever is applicable.

Free access — add to your briefcase to read the full text and ask questions with AI

No lender, mortgagee, or any third party having an interest in real or personal property shall refuse to accept a policy issued by an admitted insurer solely because the policy is issued for a continuous period without a fixed expiration date even though the policy premium is due and payable every six months, provided the lender, mortgagee, or third party is entitled to receive (a) notice of renewal from the insurer within 15 days of receipt of payment on the policy by the insured or (b) notice of cancellation or nonrenewal under the terms and conditions set
forth in Sections 678 and 2074.8 of the Insurance Code, whichever is applicable.

California § 2944.5. (2944.5. (Added by Stats. 1993, Ch. 522, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.