§ 40.1703. Premium Finance Agreement Copy or Documents Used to Comply with Financial Code: Form...
10 CA ADC § 40.1703Barclays Official California Code of Regulations
10 CCR § 40.1703
§ 40.1703. Premium Finance Agreement Copy or Documents Used to Comply with Financial Code: Form: Contents.
In addition to the specific requirements of Sections 18605, 18606 and 18607 of the Financial Code, the copy of the Premium Finance Agreement given to the borrower, or other documents used for this purpose or to signify acceptance of the borrower's application for a premium finance loan, shall contain at least the following and may consist of more than one document:
(d) A statement that the borrower may prepay the full amount due at any time and receive a rebate of a portion of the finance charge in the manner provided by Section 18637 of the Financial Code, and a statement disclosing the basis for computing said rebate and any default charge pursuant to Section 18631 of said Code;
Credits
Note: Authority cited: Section 18347, Financial Code. Reference: Sections 321, 18605, 18606, 18607, 18631, and 18637, Financial Code.
History
1. Change without regulatory effect renumbering and amending former section 1288 to new section 40.1703 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Change without regulatory effect amending subsection (e) and Note filed 8-21-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 34).
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 10, § 40.1703, 10 CA ADC § 40.1703
End of Document |