California Financial Code

§ 18588

FIN § 18588Div. 7 · Ch. 8 · Art. 2

Statute text

Unless the insured has notice of the assignment of a premium finance agreement, payment thereunder by him to the last known assignee of the agreement shall be binding upon all subsequent assignees. Assignment of the premium finance agreement shall not cut off any defenses which the insured would have against the company or an assignee of the agreement arising from obligations imposed by this division. The obligations and rights of a premium finance agency, under this chapter, shall also apply to the assignee of a premium finance agreement.

Legislative history

Added by Stats. 1976, Ch. 964.