Statute · California Health and Safety Code
Cal. Health & Safety Code § 129180 — Termination of Insurance
Cal. Health & Safety Code § 129180
- Type
- Statute
- Source
- California Health and Safety Code
- Jurisdiction
- California
- Date
- 2021-07-27
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The obligation to pay any subsequent premium charge for insurance shall cease, and all rights of the lender and the borrower under this chapter shall terminate as of the date of the notice, as herein provided, in the event that (a) any lender under a loan forecloses on the mortgaged property, or…
Citator
Cal. Health & Safety Code § 129180 — Termination of Insurance is in force in the current edition of the Code, and nothing recorded condemns it.
The obligation to pay any subsequent premium charge for insurance shall cease, and all rights of the lender and the borrower under this chapter shall terminate as of the date of the notice, as herein provided, in the event that (a) any lender under a loan forecloses on the mortgaged property, or has otherwise acquired the project property from the borrower after default, but does not convey the property to the department in accordance with this chapter, and the department is given written notice thereof, or (b) the borrower pays the obligation under the loan in full prior to the maturity thereof, and the department is given written notice thereof.