SECTIONS 300-305 - California Statutes

INSURANCE CODE

SECTION 300-305

300. Except in the cases specified in the next four sections, and
in the cases of life and disability insurance, a change of interest
in any part of a subject insured, unaccompanied by a corresponding
change of interest in the insurance, suspends the insurance to an
equivalent extent until the interest in the subject and the interest
in the insurance are vested in the same person.

301. A change of interest in a subject insured, after the
occurrence of an injury which results in a loss, does not affect the
right of the insured to indemnity for the loss.

302. A change of interest in one or more of several distinct
subjects, separately insured by one policy, does not avoid the
insurance as to the others.

303. A change of interest by will or succession, on the death of
the insured, does not avoid insurance; and his interest in the
insurance passes to the person taking his interest in the subject
matter insured.

304. 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.

305. The mere transfer of subject matter insured does not transfer
the insurance, but suspends it until the same person becomes the
owner of both the insurance and the subject matter insured.