California Law (Last Updated: March 4, 2014) |
Financial Code - FIN |
Division 7. INDUSTRIAL LOAN COMPANIES |
Chapter 8. Insurance Premium Financing |
ARTICLE 4. Limitation on Finance Charges |
Section 18630.
Latest version.
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In the event that the insurance policy or policies which are the subject of a premium finance agreement are canceled by the insured or by the insurer, for any cause, the insured shall be entitled to receive a refund credit of the unearned finance charge. This refund credit shall be calculated in the same manner as prescribed in Section 18629, and shall be paid to the insured within a reasonable time.
(Added by Stats. 1976, Ch. 964.)