The amount charged to a debtor for any credit life or credit disability insurance shall not exceed the premium rates filed with the commissioner for the coverage provided or the premiums charged by the insurer, as computed at the time the charge to the debtor is determined, whichever is less.
Cal. Ins. Code § 779.16
Credit Life and Disability Insurance
Applied in 1 court decision — leading case Keniston v. American National Insurance (1973)
Most recently applied in Keniston v. American National Insurance (April 1973)
Amended by Stats. 1963, Ch. 1836.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.