California Financial Code

§ 18596

FIN § 18596 Effective Jan 1, 2023Div. 7 · Ch. 8 · Art. 2

Statute text

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 customers, provided that the aggregate finance charges, including interest paid or not paid on those investment certificates, do not exceed those charges permitted under Section 18626 and (b) to any institutional investors, governmental agency, or instrumentality as the Commissioner of Financial Protection and Innovation may designate by rule.

Legislative history

Amended by Stats. 2022, Ch. 452, Sec. 131. (SB 1498) Effective January 1, 2023.