California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 1 - Production of Insurance › Article 3 - Motor Vehicle Insurance › Regulations › Section 2114 - Written Statement to Purchaser

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except as permitted by Section
						21145 every licensed dealer or
						dealer's subsidiary shall at the time of the execution of a contract of sale
						deliver to the purchaser a written statement signed by both the purchaser and
						the dealer or dealer's subsidiary as the case may be. Such statement shall be
						denominated a "Statement of Insurance" and shall be either a separate document
						or a separately executed portion of another document connected with the motor
						vehicle insurance transaction. If any provision of any law of this State
						requires that any matters specified herein be included in another document
						connected with such transaction their inclusion therein shall be deemed
						compliance with this section. A copy of the Statement of Insurance and of such
						other document, if any, shall be retained by the dealer or dealer's subsidiary
						in the records and files of the dealer's or dealer's subsidiary's insurance
						transactions. The printed portion of the Statement of Insurance shall be in
						type not less than ten point unless it is included in the same document as a
						conditional sales contract as defined in Section
						2981 of the
						Civil Code, in which event it shall be printed in not less than eight point.
						All inserts made to complete such Statement must be equally prominent and must
						be made prior to the signing thereof by any party. Such Statement of Insurance
						shall specify the following facts relative to all insurance charged to the
						purchaser or placed upon the motor vehicle referred to in the contract of
						sale.
(a) The kind of insurance
					 coverage. If there be no insurance covering an interest of the purchaser, a
					 clear statement of that effect must be included. If there be no insurance
					 against damages resulting from the ownership or operation of the vehicle
					 arising by reason of personal injury to or the death of any person, or from
					 damage to property, a statement must be included reading:
"UNLESS A CHARGE IS INCLUDED IN THIS AGREEMENT FOR PUBLIC
						LIABILITY OR PROPERTY DAMAGE INSURANCE, PAYMENT FOR SUCH COVERAGE IS NOT
						PROVIDED BY THIS AGREEMENT."
(b) The amount of the gross premium for each
					 kind of insurance coverage and the aggregate gross premium for all such
					 insurance coverage.
(c) The term of
					 such insurance coverage. In the event the term of any insurance coverage
					 expires prior to or continues after the expiration date of the contract of
					 sale, that fact shall be clearly stated.
(d) A notice reading substantially as
					 follows:
"NOTICE. No person is required as a condition precedent
						to financing the purchase of an automobile that any insurance be negotiated or
						purchased through a particular insurance agent or broker."
1.
						Amendment filed 9-5-61; designated 1-1-62 (Register 61, No. 18).
2.
						Change without regulatory effect amending first paragraph filed 7-14-2021
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 2021, No. 29). Filing deadline specified in Government
						Code section
						11349.3(a)
						extended 60 calendar days pursuant to Executive Order
						N-40-20.