1. (a) If a loan becomes fully prepaid on or before 15 days after the loan was made, the entire credit insurance premium must be rebated.
2. (b) When a loan is paid by credit life insurance, any unearned credit disability insurance premium must be promptly refunded to the borrower's heirs or estate and such refund must be computed as of the date of the borrower's death.

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150 and 22314, Financial Code.

History

1. Amendment 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).