11 NCAC 12 .0703 CALCULATION - UNEARNED PREMium REFunds: CRedit LIFE & CRedit ACCIDENT/HEALTH INSurance
For the purpose of calculating refunds on Credit Life and Credit Accident and Health insurance no charge for credit insurance may be made for the first 15 days of a loan month and a full may be charged for 16 days or more of a loan month; or a refund may be made on a pro rate basis for each day within the loan month.
History Note: Authority G.S. 58-2-40; 58-57-50;
Eff. May 1, 1989;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.