Cal. Code Regs. tit. 10 § 1486

Current through Register 2024 Notice Reg. No. 24, June 14, 2024

Section 1486 - Insurance Premiums: Charge Before Effective Date

No insurance premium shall be charged to or collected from a borrower prior to the effective date of such insurance. However, in the event of refinancing of a loan, existing insurance may be extended to the maturity date of the new loan and the additional premium may be charged to or collected from the borrower at the time the loan is refinanced. The cost of the insurance to replace the unexpired insurance shall not exceed the original premium cost of such unexpired insurance. The cost of the insurance for the additional term may be computed at rates currently in effect.

Cal. Code Regs. Tit. 10, § 1486

1. New NOTE filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 52).
2. Change without regulatory effect amending NOTE filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22300, 22303, 22306, 22307 and 22309, Financial Code.

1. New NOTE filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 52).
2. Change without regulatory effect amending Note filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).