Extract to table

Ongoing Monitoring During Revolving Period During the 24-month revolving period, new receivables added to the pool must comply with the 15% Single Carrier Concentration Limit at the time of each addition

These statutes establish procedural requirements that must be followed before a policy cancellation becomes effective and before the carrier's obligation to remit an unearned premium refund is triggered

The notice must specify that the premium finance company intends to cancel the policy due to the policyholder's default under the premium finance agreement

The notice must be sent a specified number of days in advance of the effective date of cancellation

The notice must identify the policy being cancelled, reference the premium finance agreement, and state the basis for cancellation (i

Under Chapter 651, a premium finance company that intends to cancel a policy due to borrower default must provide not less than 10 days' written notice to the insured before the cancellation becomes effective