California Insurance Code

§ 484

INS § 484Div. 1 · Part 1 · Ch. 5

Statute text

An acknowledgment in a policy of the receipt of premium is conclusive evidence of its payment, so far as to make the policy binding. Notwithstanding such acknowledgment, a policy may be canceled effective at such times as otherwise permitted by law for nonpayment of all or any portion of the premium which is actually unpaid if such cancellation right is reserved to the insurer in the policy.

Legislative history

Amended by Stats. 1969, Ch. 536.