- (a) An industrial loan company shall not sell credit disability insurance, as prohibited by current regulations of the Department of Insurance, to a borrower who is a member of the Armed Forces of the United States.
- (b) An industrial loan company shall not sell credit disability insurance to any other borrower as prohibited by current regulations of the Department of Insurance.
Note: Authority cited: Section 18347, Financial Code. Reference: Section 18290, Financial Code.
History
1. Change without regulatory effect renumbering former section 1202 to new section 40.901 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).