reglab/housing_qa huggingface dataset:
CA Fin Code § 18538 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 7 - Guarantee of Thrift Accounts|ARTICLE 4 - Assessments|Section 18538.

18538.  In the event any member fails to pay an assessment when due, Guaranty Corporation shall report such default in writing to the commissioner and the defaulting member within 24 hours of such default and thereafter the rights and benefits of membership of such defaulting member in Guaranty Corporation shall be suspended and the defaulting member shall not be authorized to sell or issue its investment certificates in any form until all delinquent assessments are paid in full; provided, however, that the thrift obligations of the defaulting member shall continue to be protected as provided in this chapter. Within 30 days after default, Guaranty Corporation shall bring an action in law or in equity to enforce payment. If Guaranty Corporation does not bring such action within the time specified, the commissioner may bring an action in law or in equity to enforce such payment. Upon payment of all sums due, the member shall be reinstated and thereafter may sell and issue its investment certificates.(Amended by Stats. 1983, Ch. 87, Sec. 2.)
CA Fin Code § 18560 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18560.

18560.  “Premium finance agency” means any industrial loan company incorporated under this division which, by the terms of its authority to engage in the industrial loan business, is permitted to issue or sell investment certificates subject to the limitations set forth in Section 18596 and its business is limited to that set forth in this chapter.(Added by Stats. 1976, Ch. 1296.)
CA Fin Code § 18561 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18561.

18561.  Such terms relating to insurance as are used in this chapter shall have the meaning ascribed to them in the Insurance Code and in the practices of the insurance business.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18562 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18562.

18562.  As used in this chapter, “insured” means the person who has purchased or arranged to purchase an insurance contract and who enters into a premium finance agreement with a premium finance agency.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18563 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18563.

18563.  As used in this chapter, “premium financing” means the activities of a company engaging in the business of advancing money directly or indirectly to an insurer or producer at the request of an insured pursuant to the terms of a premium finance agreement, wherein the insured has assigned the unearned premiums, accrued dividends or loss payments as security for such advancement in payment of premiums on insurance contracts only, and acquiring premium finance agreements, and does not include the financing of insurance contract premiums purchased in connection with the financing of goods and services. The amount of such advancement in payment of premiums must bear a reasonable relationship to the premium or premiums being financed.(Amended by Stats. 1998, Ch. 827, Sec. 16. Effective January 1, 1999.)
CA Fin Code § 18564 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18564.

18564.  As used in this chapter, “premium finance agreement” means a loan contract, note, agreement or obligation by which an insured agrees to pay to a company in installments the principal amount advanced by the company to an insurer or producer in payment of premium on an insurance contract or contracts, plus charges, with the assignment as security therefor of the unearned premiums, accrued dividends or loss payments, the final installment due date of the agreement not to extend beyond the term of the insurance contract included in the agreement having the latest expiration date.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18565 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18565.

18565.  As used in this chapter, “company” means a premium finance agency.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18566 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18566.

18566.  As used in this chapter, “principal balance” means the difference between the amount of the premium and fees charged by the insurer or producer and the downpayment on the premium.(Amended by Stats. 1985, Ch. 297, Sec. 3.)
CA Fin Code § 18567 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 1 - Definitions|Section 18567.

18567.  As used in this chapter, “finance charge” means any amount which the insured agrees to pay the company in excess of the premium and fees charged by the insurer or producer, and exclusive of the cost of credit life insurance and attorney fees.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18580 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18580.

18580.  A premium finance agency desiring the full authority which may be conferred by this division, shall, in respect to any lending operations other than insurance premium financing, be required to amend its articles of incorporation and meet the requirements of this division as if it were making an original application for authority to organize under this division.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18581 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18581.

18581.  The articles of incorporation of any corporation organized under this division as a premium finance agency shall include reference to that fact.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18582 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18582.

18582.  Capital stock of any premium finance agency shall not be less than seventy-five thousand dollars ($75,000) and need not exceed that sum regardless of the number of branch offices or business locations which may be authorized under the provisions of this division.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18583 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18583.

18583.  Before a premium finance agency commences business or opens a branch office or place of business, there must be paid in cash, for the benefit of the agency, 100 percent of the amount of the minimum capital stock required under this chapter.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18584 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18584.

18584.  An insurance premium finance agreement, as defined in Section 18564, may be prepared in the office of an insurance producer licensed by the Department of Insurance, and mailed or otherwise delivered to a premium finance agency for acceptance without the office of the producer thereby being constituted a place of business of the company. A producer at whose office a premium finance agreement is so prepared shall not be considered to be a broker of the company as that term is used in this division.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18585 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18585.

18585.  In the event of any conflict in the provisions of this chapter with the provisions of any other chapter in this division, the provisions of this chapter shall control with regard to a premium finance agency or to insurance premium financing.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18586 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18586.

18586.  The provisions of Sections 18023, 18024, 18120, 18205, 18268, 18269, 18271, 18272, 18274, and 18455 shall not apply to a premium finance agency.(Amended by Stats. 2001, Ch. 159, Sec. 95. Effective January 1, 2002.)
CA Fin Code § 18587 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18587.

18587.  The provisions of Sections 18607, 18625, and 18626 shall not apply to any bona fide loan with a principal amount of two thousand five hundred dollars ($2,500) or more or to a premium finance agency in connection with such loans if the provisions of this section are not used for the purpose of evading this division.(Amended by Stats. 1986, Ch. 598, Sec. 1.)
CA Fin Code § 18588 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18588.

18588.  Unless the insured has notice of the assignment of a premium finance agreement, payment thereunder by him to the last known assignee of the agreement shall be binding upon all subsequent assignees.Assignment of the premium finance agreement shall not cut off any defenses which the insured would have against the company or an assignee of the agreement arising from obligations imposed by this division.The obligations and rights of a premium finance agency, under this chapter, shall also apply to the assignee of a premium finance agreement.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18589 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18589.

18589.  At any time during the term of the premium finance agreement, but not later than one year after the last payment thereunder, the company shall upon written request of the insured, give or mail to him a written statement of the dates and amounts of payment, and the total amount, if any, unpaid thereunder. Such a statement shall be supplied once each year without charge; if any additional statement is requested, the company shall supply such statement at a charge not exceeding one dollar ($1) for each additional statement so supplied.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18590 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18590.

18590.  Upon payment of a loan in full the company upon request shall return the premium finance agreement marked “Paid” to the insured.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18591 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18591.

18591.  No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrances, successors or assigns of the insured.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18592 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18592.

18592.  Any downpayment which is made and which is received by the company from the insured, or from the insurance producer on behalf of the insured, shall be held by the company in trust for and in transit to the insurer, and shall be paid to the insurer, together with the balance of the premium payable pursuant to the terms of the premium finance agreement within 30 days from the effective date of the policy, or within 30 days after the receipt of a proper premium finance agreement by the company, or within 15 days after the company has mailed to the insured notice of a revised finance agreement pursuant to Section 18606, whichever is later. In the event that the premium is paid to the insurance agent or broker of record, such agent or broker of record shall not be deemed the agent of the company by reason of such payment.Upon request of the commissioner, the company shall furnish an authorization for disclosure to the commissioner of financial records of such trust accounts pursuant to Section 7473 of the Government Code.(Amended by Stats. 1977, Ch. 487.)
CA Fin Code § 18593 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18593.

18593.  The downpayments received by the company under the provisions of Section 18592, may be held by the company in trust in a separate bank account or depository, or in lieu thereof, the company may maintain a time deposit with a bank, savings and loan association, or comparable institution, or obtain a certificate or certificates of deposit or a clean and irrevocable letter or letters of credit from a bank, in an amount at least equal to the average amount of such downpayments being held at any given time by the company as ascertained by the commissioner, and which are payable to the insurer pursuant to the terms of the premium finance agreement. Such deposits, certificates, or a clean and irrevocable letter or letters of credit shall be held in trust for the benefit of the insureds, as their relative interests in such downpayments may exist at any given time, and in the event of the insolvency of a company, such funds on deposit under the provisions of this section or as represented by a certificate or certificates of deposit or a clean and irrevocable letter or letters of credit shall be first applied to remitting the amount of the downpayment to the insureds on all premium finance agreements upon which the company has not then forwarded in full the downpayments collected from and then being held for insureds, and, if insufficient to pay all such amounts in full, then such funds shall be applied for such purposes pro rata.(Amended by Stats. 1983, Ch. 356, Sec. 1.)
CA Fin Code § 18594 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18594.

18594.  Any corporation organized as an industrial loan company other than a premium finance agency shall conduct any insurance premium financing business under the authority of this chapter and it shall be subject to all of the provisions of this chapter in respect to such business, as if it were a premium finance agency.(Amended by Stats. 1998, Ch. 827, Sec. 17. Effective January 1, 1999.)
CA Fin Code § 18595 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18595.

18595.  A premium finance agency shall not incorporate the words “industrial loan company” in its corporate name, on its loan forms, or in its advertising.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18596 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 2 - General|Section 18596.

18596.  A premium finance company may issue or sell investment certificates only (a) to its customers directly in connection with the financing of premiums for those customers, provided that the aggregate finance charges, including interest paid or not paid on those investment certificates, do not exceed those charges permitted under Section 18626 and (b) to any institutional investors, governmental agency, or instrumentality as the Commissioner of Business Oversight may designate by rule.(Amended by Stats. 2019, Ch. 143, Sec. 62. (SB 251) Effective January 1, 2020.)
CA Fin Code § 18605 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 3 - Provisions of Premium Finance Agreements|Section 18605.

18605.  A premium finance agreement shall be in writing and the printed portion thereof shall be in at least eight-point type. The agreement shall set forth:1. The names and addresses of the insured and the company, and the date of the agreement.2. A description of the insurance contracts for which the premiums are advanced including the total amount of the premiums and fees and a specific breakdown thereof by policies and a general description of coverages.3. The amount of the downpayment.4. The cost, if any, for credit life insurance.5. The principal balance.6. The finance charges.7. The unpaid balance.8. The due date of the first installment.9. The number, amount and frequency of payment of the installments.10. A statement that the insured may prepay the full amount due and receive a refund credit of the unearned finance charge, in the manner provided by Section 18629.(Repealed and added by Stats. 1976, Ch. 964.)
CA Fin Code § 18606 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 3 - Provisions of Premium Finance Agreements|Section 18606.

18606.  A premium finance agreement shall not be executed by or on behalf of the insured when it contains any blank space to be filled in thereafter; however, if any insurance contract, premiums for which are advanced or to be advanced under the agreement, has not been issued at the time of execution and the premium finance agreement so provides, the name of the insurer, the policy number and the due date of the first installment may be left blank and inserted later. In connection with the financing of an additional premium or policies, upon the completion of the computations necessary to determine the amount of the revised unpaid balance and the number and amount of future installment payments, the company shall mail notice of the changes to the insured at his address shown in the agreement. The notice of the revised finance agreement shall set forth:(a) The unpaid balance, as adjusted.(b) The number and frequency of each installment under the revised finance agreement.(c) The amount of each installment.(d) A statement to the insured that he may disaffirm the revised finance agreement by mailing, to the company’s office, notice of his intention to do so within 10 days of the company’s mailing of the notice of the revised finance agreement.(e) A statement to the insured that the company may, in the event he disaffirms, cancel his insurance contract or contracts as provided in Section 18608, except that the 10-day period required by that section shall be deemed to commence with the mailing of the notice of the revised finance agreement.(Repealed and added by Stats. 1976, Ch. 964.)
CA Fin Code § 18607 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 3 - Provisions of Premium Finance Agreements|Section 18607.

18607.  Upon receipt of the loan form the company shall promptly mail to the insured at the address shown in the agreement, or deliver to the insured personally, either a notice to the effect that the application for a loan is rejected or a copy of the agreement, thereby signifying acceptance by the company, or if the agreement contained any blank space when it was executed by or on behalf of the insured and such blank space was subsequently filled in, a copy of the agreement as so filled in and the insured shall in such event have 10 days in which to disaffirm his obligation under the premium finance agreement by giving written notice thereof to the producer and the company. In the event the agreement is not disaffirmed by the insured, the agreement shall be as binding an obligation of the insured as if the agreement were complete on its face when it was executed.(Repealed and added by Stats. 1976, Ch. 964.)
CA Fin Code § 18608 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 3 - Provisions of Premium Finance Agreements|Section 18608.

18608.  (a) A premium finance agreement may contain a power of attorney or other authority enabling the company to cancel the insurance contract or contracts listed in the agreement in the event of default in the terms thereof.(b) Upon the exercise of such a right to cancel, the company shall mail to the insured, to his or her last known address or to the address shown on the premium finance agreement at least 10 days prior to cancellation, a notice of its intent to cancel the insurance contract or contracts. (c) The liability of a company to any person or corporation upon the exercise of such a right or authority of cancellation shall be limited to the amount of the principal balance, except in the event of willful failure by the company to mail the notice required by this section.(Amended by Stats. 1999, Ch. 428, Sec. 2. Effective January 1, 2000.)
CA Fin Code § 18609 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 3 - Provisions of Premium Finance Agreements|Section 18609.

18609.  All statutory, regulatory and contractual restrictions providing that the insured or the insurer shall not cancel the insurance contract unless the insured or the insurer first satisfies such restrictions by giving a prescribed notice of cancellation to a governmental agency, the insurer, the insured, the holder of a security interest in the subject of the insurance, or other prescribed party, shall not be affected by the provisions of this division. However, any cancellation notice period required by such statutory, regulatory or contractual restriction shall not be cumulative to the period required by Section 18606 or 18608. If cancellation of the insurance contract is initiated by the company under the terms of this division, the insurer shall (in accordance with the requirement for a prescribed notice), on behalf of itself or the insured, give such notice to the governmental agency, the holder of a security interest in the subject of the insurance or other prescribed party; and the insurer shall determine and calculate the effective date of cancellation (in accordance with the terms of that prescribed notice) from the date it receives the notice of request for cancellation from the company. In no instance shall the effective date of cancellation be prior to that established by the company.(Repealed and added by Stats. 1976, Ch. 964.)
CA Fin Code § 18610 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 8 - Insurance Premium Financing|ARTICLE 3 - Provisions of Premium Finance Agreements|Section 18610.

18610.  The insurer within a reasonable time after the effective date of cancellation shall return whatever gross unearned premiums or accrued dividends are payable under the insurance contract to the company, which financed the insurance contract, for the benefit of the insured. Whenever any funds are received by the company which are in excess of the amount due to the company, such an excess shall be remitted promptly to the insured or to his order or to the insurance agent for the account of the insured.(Amended by Stats. 1983, Ch. 356, Sec. 2.)