Section 484 Of Chapter 5. The Premium From California Insurance Code >> Division 1. >> Part 1. >> Chapter 5.
484
. An acknowledgment in a policy of the receipt of premium is
conclusive evidence of its payment, so far as to make the policy
binding. Notwithstanding such acknowledgment, a policy may be
canceled effective at such times as otherwise permitted by law for
nonpayment of all or any portion of the premium which is actually
unpaid if such cancellation right is reserved to the insurer in the
policy.