ARTICLE 1. Definitions

Article 1 added by Stats. 1976, Ch. 964.

§§ 18560–18567 · 8 sections

• § 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…
• § 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…
• § 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…
• § 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…
• § 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…
• § 18565 As used in this chapter, “company” means a premium finance agency.
• § 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…
• § 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…