2019 California Code
Financial Code - FIN
DIVISION 13 - PREMIUM FINANCING
Section 29000.

Universal Citation: CA Fin Code § 29000 (2019)
29000.  

As used in this division, “premium financing” means 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 does not include the financing of insurance contract premiums purchased in connection with the financing of goods and services.

(Added by Stats. 1971, Ch. 1103.)

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