537.3207  Form of insurance premium loan agreement.

An agreement pursuant to which an insurance premium loan is made shall contain the names of the insurance agent or broker negotiating each policy or contract and of the insurer issuing each policy or contract, the number and inception date of, and premium for, each policy or contract, the date on which the term of the loan begins, and a clear and conspicuous notice that each policy or contract may be canceled if payment is not made in accordance with the agreement. If a policy or contract has not been issued when the agreement is signed, the agreement may provide that the insurance agent or broker may insert the appropriate information in the agreement and, if they do so, shall furnish the information promptly in writing to the insured.

Section History: Early form

  [C75, 77, 79, 81, § 537.3207]

Internal References

  Referred to in § 537.5201

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