California § 778.2. 778.2. (Amended by Stats. 1983, Ch. 356, Sec. 5.)

California Statutes

§ 778.2. — 778.2. (Amended by Stats. 1983, Ch. 356, Sec. 5.)

California § 778.2.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 1.DIVISION 1. GENERAL RULES GOVERNING INSURANCE

Part 2.PART 2. THE BUSINESS OF INSURANCE

Ch. 1.CHAPTER 1. General Regulations

Art. 5.8.ARTICLE 5.8. Premium Financing

This text of California § 778.2. (778.2. (Amended by Stats. 1983, Ch. 356, Sec. 5.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 778.2. (2026).

Text

(a)Any person engaged in business as an insurance agent or broker and who participates in the arrangement of a premium financing agreement shall, if he accepts compensation for arranging, directing, or performing services in connection with the premium financing agreement, disclose to the insured, in a manner and form established by the commissioner, the amount of compensation he is to receive from the premium financer and maintain for three years and make available to the commissioner a list of accounts in connection with which he has accepted compensation for premium financing services showing the amount of such compensation with respect to each premium financing agreement and with respect to each financing schedule used by the agent or broker. The requirements of this subdivision shal

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(a)
Any person engaged in business as an insurance agent or broker and who participates in the arrangement of a premium financing agreement shall, if he accepts compensation for arranging, directing, or performing services in connection with the premium financing agreement, disclose to the insured, in a manner and form established by the commissioner, the amount of compensation he is to receive from the premium financer and maintain for three years and make available to the commissioner a list of accounts in connection with which he has accepted compensation for premium financing services showing the amount of such compensation with respect to each premium financing agreement and with respect to each financing schedule used by the agent or broker. The requirements of this subdivision shall not apply with respect to interest paid to the broker or agent by the premium financer based upon delay in payment of the premium due the insurer as permitted under subdivision (a) or (b) of Section 18628 of the Financial Code.
(b)
The commissoner shall hold a hearing and adopt by regulation a standard procedure and form for making the disclosure to the insured required by subdivision (a).