DIVISION 1. GENERAL RULES GOVERNING INSURANCE 100-1879.8›PART 2. THE BUSINESS OF INSURANCE 680-1879.8›CHAPTER 1. General Regulations 680-1113›ARTICLE 5.5. Insurance in Connection With Sales and Loans 770-776
§ 771.01
California Insurance Code · 2020-11 edition · updated 2026-10-04 · California
No person making a loan of money on the security of residential real property shall reject or refuse to accept a policy of fire and casualty insurance underwritten by an insurer chosen by the borrower for any reason that the lender would not impose on an insurer chosen by the lender when the borrower requests the lender to obtain the insurance. This section applies to a lender’s rejection or refusal to accept a policy of fire and casualty insurance due to, but not limited to, terms of coverage, conditions of payment, or financial rating of the insurer.
(Added by Stats. 1995, Ch. 857, Sec. 1. Effective January 1, 1996.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code