ARTICLE 2. General [18580. - 18596.]
Article 2 added by Stats. 1976, Ch. 964.
§§ 18580–18596 · 17 sections
- § 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…
- § 18581 The articles of incorporation of any corporation organized under this division as a premium finance agency shall include reference to that fact.
- § 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…
- § 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,…
- § 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…
- § 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…
- § 18586 The provisions of Sections 18023, 18024, 18120, 18205, 18268, 18269, 18271, 18272, 18274, and 18455 shall not apply to a premium finance agency.
- § 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)…
- § 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…
- § 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…
- § 18590 Upon payment of a loan in full the company upon request shall return the premium finance agreement marked “Paid” to the insured.
- § 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,…
- § 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…
- § 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,…
- § 18594 Any corporation organized as an industrial loan company other than a premium finance agency shall conduct any insurance premium financing business under the…
- § 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.
- § 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…