California Insurance Code

§ 10138

INS § 10138 Effective Jan 1, 2010Div. 2 · Part 2 · Ch. 1 · Art. 2.3

Statute text

(a)A transfer agreement, as defined in subdivision (o) of Section 10134, shall not include any provision described in the paragraphs below. Any inclusion of a prohibited provision, with respect to a seller who is a California resident, shall make the provision void and unenforceable.

(1)Any provision that waives the seller’s right to sue under any law, or in which the seller agrees not to sue, or that waives jurisdiction or standing to sue under the contract.

(2)Any provision that requires the seller to indemnify and hold harmless the buyer, or to pay the buyer’s costs of defense, in any claim or action brought by the seller or on the seller’s behalf contesting the sale for any reason.

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Legislative history

Amended by Stats. 2009, Ch. 593, Sec. 5. (SB 510) Effective January 1, 2010.