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 or producer at the request of an insured pursuant to the terms of a premium finance agreement, wherein the insured has assigned the unearned premiums, accrued dividends or loss payments as security for such advancement in payment of premiums on insurance contracts only, and acquiring premium finance agreements, and does not include the financing of insurance contract premiums purchased in connection with the financing of goods and services. The amount of such advancement in payment of premiums must bear a reasonable relationship to the premium or premiums being financed.
Last Updated§ 18563’s source at ca.gov
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Location: https://california.public.law/codes/ca_fin_code_section_18563
Original Source: Section 18563, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=18563. (last accessed Aug. 19, 2023).
The legislature occasionally skips outline levels. For example:
(3) A person may apply [. ] (4)(a) A person petitioning for relief [. ]
In this example, (3), (4), and (4)(a) are all outline levels, but (4) was omitted by its authors. It's only implied. This presents an interesting challenge when laying out the text. We've decided to display a blank section with this note, in order to aide readability.
Trust but verify. Here is the original source for section 18563Do you have an opinion about this solution? Drop us a line.