California Civil Code
§ 2982.12
CIV § 2982.12 Effective Jan 1, 2025Div. 3 · Title 14 · Part 4 · Ch. 2b
Statute text
View on leginfo.ca.gov(a)(1) A guaranteed asset protection waiver may be offered, sold, or provided to a buyer, or administered, in connection with a conditional sale contract subject to this chapter only in compliance with this chapter and paragraph (2) of subdivision (h) of Section 1758.992 of the Insurance Code.
(2)A guaranteed asset protection waiver, which may be titled as an addendum, forms part of the conditional sale contract and remains a part of the conditional sale contract upon the assignment, sale, or transfer of that conditional sale contract.
(3)Neither the extension of credit, the term of credit, nor the terms of a conditional sale contract may be conditioned upon the purchase of a guaranteed asset protection waiver.
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Legislative history
Amended by Stats. 2024, Ch. 853, Sec. 16. (AB 3281) Effective January 1, 2025.