District of Columbia Statutes
§ 31-1109 — Service charges.
District of Columbia § 31-1109
JurisdictionDistrict of Columbia
Title 31Insurance and Securities.
Ch. 11Insurance Premium Finance Companies.
This text of District of Columbia § 31-1109 (Service charges.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
D.C. Code § 31-1109 (2026).
Text
(a)A premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by this chapter.
(b)The service charge is to be computed on the balance of the premiums due (after subtracting the downpayment made by the insured in accordance with the premium finance agreement) from the effective date of the insurance coverage, for which the premiums are being advanced, to and including the date when the final installment of the premium finance agreement is payable.
(c)The service charge shall be a maximum of $10 per $100 per year plus an additional charge of $20 per premium finance contract which need not be refunded upon cancellation or prepayment.
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Legislative History
Oct. 9, 1940, ch. 792, ch. III, § 59; Apr. 18, 1966, 80 Stat. 126, Pub. L. 89-403, § 1; Nov. 15, 1983, D.C. Law 5-40, § 2(a), 30 DCR 4994
Nearby Sections
15
§ 31-1001
Report requirement.§ 31-1004
Confidentiality.§ 31-101
Definitions.§ 31-103
Functions and duties.§ 31-105
Transfers.§ 31-106
Organization.§ 31-106.01
Student Loan Ombudsman.§ 31-106.02a
Prohibited conduct – student loan servicers.§ 31-106.02b
Affirmative duties – student loan servicers.§ 31-106.02c
Prohibited acts – private education lenders.Cite This Page — Counsel Stack
Bluebook (online)
District of Columbia § 31-1109, Counsel Stack Legal Research, https://law.counselstack.com/statute/dc/31-1109.