58-35-35. Excessive insurance premium finance charges; penalty.
The knowingly taking, receiving, reserving, [or] charging a greater insurance premium finance charge than that authorized in this Article shall be held and adjudged a forfeiture of the entire insurance premium finance charge which the insurance premium finance agreement carries with it, or which has been agreed to be paid thereon; and if a greater insurance premium finance charge has been paid, the person paying the same or his legal representative may recover from the insurance premium finance company twice the entire amount of the insurance premium finance thus paid if action therefor is brought within two years from the time of such payment. (1963, c. 1118.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 35 - Insurance Premium Financing.
§ 58-35-5 - License required; fees.
§ 58-35-10 - Exceptions to license requirements.
§ 58-35-22 - Notification of criminal or administrative actions.
§ 58-35-25 - Investigations; hearings.
§ 58-35-35 - Excessive insurance premium finance charges; penalty.
§ 58-35-40 - Rebates and inducements prohibited; assignment of insurance premium finance agreements.
§ 58-35-45 - Filing and approval of forms and service charges.
§ 58-35-50 - Form, contents and execution of insurance premium finance agreements.
§ 58-35-55 - Limitations on service charges; computation; minimum charges.
§ 58-35-60 - Prohibited provisions in insurance premium finance agreements.
§ 58-35-65 - Delivery of copy of insurance premium finance agreement to insured.
§ 58-35-70 - Payments by insured without notice of assignment of agreement.
§ 58-35-75 - Statement of account; release on payment in full.
§ 58-35-80 - Credit upon anticipation of payments.
§ 58-35-90 - Violations; penalties.