Chapter 04. Provision of Completed Premium Finance Agreement to Insured

If the insured is present at the time a premium finance agreement is signed by or on behalf of the insured, the premium finance company, or an agent or producer, if applicable, shall provide the insured with, or cause the insured to be provided with, a legible copy of the fully completed and executed premium finance agreement at the time the agreement is signed.

If the insured is not present at the time a premium finance agreement is executed on behalf of the insured, the premium finance company, or an agent or producer, if applicable, within 72 hours after the agreement is executed, shall mail or otherwise cause to be provided to the insured a legible copy of the fully completed and executed premium finance agreement.

A premium finance company shall maintain a record of all premium finance agreements provided to insureds in accordance with Regulation .02 of this chapter, and these records shall be open to examination by the Commissioner.