§ 19-14.6-1. Form of agreement. (a) Every agreement shall: (1) Be dated and signed by, or on behalf of, the insured, and the printed portion thereof shall be in at least eight-point (8) type; (2) Contain the names and place of business of the insurance producer negotiating the insurance contract or contracts thereto relating, the […]
§ 19-14.6-2. Limitation on interest and other charges. (a) An insurance premium finance company shall not charge, contract for, receive, or collect any interest or discount charges at a rate in excess of that provided in § 6-26-2. (b) Interest on any insurance premium finance agreement is to be computed on the balance of the […]
§ 19-14.6-3. Delinquency and cancellation charges. (a) An insurance premium finance agreement may provide for payment by the insured of a delinquency charge ranging from one dollar ($1.00) to a maximum of five percent (5%) of an installment that is in default for a period of five (5) days or more. (b) The agreement may […]
§ 19-14.6-4. Cancellation of insurance contract upon default. (a) When an insurance premium finance agreement contains a power of attorney enabling the company to cancel an insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be cancelled by the company unless the cancellation is effectuated in accordance with this […]
§ 19-14.6-5. Return premiums. Whenever a financed insurance contract or contracts is cancelled, the insurer shall return the gross unearned premium or premiums, if any, that may be due under the insurance contract or contracts, directly to the insurance premium finance company for the account of the insured, as soon as reasonably possible, but, in […]
§ 19-14.6-6. Exemption from filing requirements. Filing of the insurance premium finance agreement shall not be necessary to perfect validity thereof, as a secured transaction against creditors, subsequent purchasers, pledgees, encumbrancers, trustees in bankruptcy, or other insolvency proceeding under any law or any person having the status, power, or authority of the aforementioned, or their […]
§ 19-14.6-7. Reimbursement for orthotic and prosthetic services. (a) As used in this section: (1) “Federal reimbursement rates” means the current listed fee schedule from the Centers for Medicare and Medicaid Services, listing the current Healthcare Common Procedure Coding system (HCPCS) and the corresponding reimbursement rates. (2) “Orthosis” means a custom fabricated brace or support […]
