California Insurance Code

§ 170

INS § 170Div. 1 · Part 1 · Ch. 2 · Art. 2

Statute text

Unless the policy otherwise provides, if a mortgagor of property effects insurance in his own name providing that the loss shall be payable to the mortgagee, or assigns a policy of insurance to a mortgagee, the insurance is deemed to be upon the interest of the mortgagor and the mortgagor does not cease to be a party to the original contract.

Legislative history

Enacted by Stats. 1935, Ch. 145.