If an insurance premium is increased subsequent to the sale of the insurance in connection with a loan, the finance company shall notify the borrower of such increase. The notice to the borrower shall state the reason for the increase, the amount of the additional premium, any change in terms and the amount of any additional charges.

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150, 22311, 22312 and 22313, Financial Code.

History

1. New Note filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).

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).