AUTO. FUNDING GROUP, INC. v. GARAMENDI, B164141
A debt cancellation program offered by car finance lender was not insurance and therefore was not subject to regulation by the Department of Insurance. Plaintiff did not agree to shift the buyer's risk to itself or anyone else; it promised to do nothing except bear the risk of loss due to theft or physical damage, with the right to make repairs at its expense if it chooses.
- Decided 12/23/2003
- Published 12/23/2003
- California Court of Appeal
- For Appellees:
- Bill Lockyer, Attorney General, W. Dean Freeman, Mark P. Richelson, and Brian D. Wesley, Deputy Attorneys General, for Defendant and Appellant., Barger & Wolen, Robert W. Hogeboom, and Robert J. Cerny, Los Angeles, for Plaintiffs and Respondents.