California Civil Code 2993 – A holder of a lease contract, or the agent of a holder, who has …
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A holder of a lease contract, or the agent of a holder, who has received a notice pursuant to § 7507.6 of the Business and Professions Code, shall not make a subsequent assignment to skip trace, locate, or repossess the vehicle without simultaneously, and in the same manner by which the assignment is given, advising the assignee of the assignment of the information contained in the notice. As used in this section, “assignment” has the same meaning set forth in § 7500.1 of the Business and Professions Code.
(Added by Stats. 2007, Ch. 192, Sec. 5. Effective September 7, 2007.)
Terms Used In California Civil Code 2993
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC