California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 1. GENERAL RULES GOVERNING INSURANCE |
Part 1. THE CONTRACT |
Chapter 2. Parties, Events, and Interests |
ARTICLE 5. Insurable Interest: Effect of Transfer |
Section 304.
Latest version.
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In the case of partners, joint owners, or owners in common, who are jointly insured, a transfer of interest by one to another thereof does not avoid insurance, even though it has been agreed that the insurance shall cease upon an alienation of the subject insured.
(Enacted by Stats. 1935, Ch. 145.)