Cal. FIN § 18588
This is the official text of Cal. FIN § 18588, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory 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.
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.
Status: in_force · Read it on the official government site
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