11 NCAC 13 .0320             INSTALLMENT PAYMENTS MADE BY INSURED

If an insurance premium finance company allows or authorizes an insurance agent, broker or any other representative to accept installment payments from the insured or if the premium finance company accepts installment payments made by the insured from an insurance agent, broker or any other representative, payment to the insurance agent, broker or any other representative shall be considered as payment to the premium finance company as of the date the installment payment was accepted by the insurance agent, broker or any other representative.

History Note:        Authority G.S. 58-2-40; 58-35-50;

Eff. February 1, 1976;

Readopted Eff. January 1, 1978;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. June 25, 2016.