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Cal. Fin. Code § 18630

Limitation on Finance Charges

Known as the Industrial Loan Law

The act spans §§ 18000–18707 (410 sections).

Added by Stats. 1976, Ch. 964.

In the event that the insurance policy or policies which are the subject of a premium finance agreement are canceled by the insured or by the insurer, for any cause, the insured shall be entitled to receive a refund credit of the unearned finance charge. This refund credit shall be calculated in the same manner as prescribed in Section 18629, and shall be paid to the insured within a reasonable time.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.