RCW 48.56.120

Cancellation of insurance contract—Return of unearned premiums.

Known as the The Insurance Premium Finance Company Act

The act spans §§ 48.56.010 to 48.56.900 (14 sections).

Applied in 4 court decisions — leading case Restaurant Development, Inc. v. Cananwill, Inc. (2003)

Most recently applied in 150 Wash. 2d 674 - Restaurant Development, Inc. v. Cananwill, Inc. (December 2003)

1969 ex.s. c 190 s 12.

How often courts cite this section

citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(1) Whenever a financed insurance contract is canceled, the insurer shall return whatever gross unearned premiums are due under the insurance contract to the premium finance company for the account of the insured or insureds.

(2) In the event that the crediting of return premiums to the account of the insured results in a surplus over the amount due from the insured, the premium finance company shall refund such excess to the insured: PROVIDED, That no such refund shall be required if it amounts to less than one dollar.

Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.