(a) A person may not advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any manner, any statement or representation with regard to the rates, terms, or conditions for the lending of money, credit, goods, or things in action which is false, misleading, […]
(a) A licensee shall maintain records of its premium finance transactions, including the insurance agents through which the licensee provides loans to residents of this state, and the records shall be open to examination and investigation by the commissioner at the office of the licensee. All records pertaining to insurance contracts financed by state residents […]
(a) A premium finance agreement must (1) be dated, signed by the borrower, and the printed portion of it shall be in at least eight-point type; (2) contain the name and place of business of the insurance agent negotiating the related insurance policy, the name and residence or the place of business of the borrower […]
(a) A premium finance company may not charge, contract for, receive, or collect a service charge other than as permitted by this chapter. (b) The service charge is to be computed on the balance of the premiums due, after subtracting the down payment made by the borrower in accordance with the premium finance agreement, from […]
(a) A premium finance agreement may provide for the payment by the borrower of a delinquency charge for any payment that is in default for a period of 10 days or more. The charge may be made for each month or fraction of a month that the payment is in default. The amount of the […]
(a) When a premium finance agreement contains a power of attorney enabling the licensee to cancel the insurance policy listed in the agreement, the insurance policy may not be cancelled by the licensee unless the cancellation is effectuated under this section. (b) The licensee shall give not less than 10 days’ written notice to the […]
(a) If a financed insurance policy is cancelled, and provided the insurer has been notified of the assignment of interest of the insured to the licensee, the insurer shall, within 60 days after the effective date of cancellation, take the steps that are necessary to have any gross unearned premiums that are due under the […]
