California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 6 - Insurance
Section 1494 - Requirement of Cancellation of Existing Insurance Prohibited
Universal Citation: 10 CA Code of Regs 1494
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
A finance company shall not as a condition precedent to the making of a loan require a borrower to cancel any existing insurance. The borrower shall have sole discretion as to whether existing insurance shall be maintained or canceled.
1. New NOTE
filed 12-29-83; effective thirtieth day thereafter (Register 83, No.
53).
2. Change without regulatory effect amending NOTE filed 6-14-95
pursuant to section
100, title 1, California Code of
Regulations (Register 95, No. 24).
Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150, 22311, 22312 and 22313, Financial Code.
Disclaimer: These regulations may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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