RCW 48.56.090
Service charge.
(1) A premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by this chapter.
(2) The service charge is to be computed on the balance of the premiums due (after subtracting the down payment made by the insured in accordance with the premium finance agreement) from the effective date of the insurance coverage, for which the premiums are being advanced, to and including the date when the final installment of the premium finance agreement is payable.
(3) The service charge shall be a maximum of ten dollars per one hundred dollars per year plus an acquisition charge of ten dollars per premium finance agreement which need not be refunded upon cancellation or prepayment.
[ 1969 ex.s. c 190 § 9.]
Structure Revised Code of Washington
Chapter 48.56 - Insurance Premium Finance Company Act.
48.56.030 - License—Required—Fees—Information to be furnished—Penalty.
48.56.040 - Investigation of applicant—Qualifications—Hearing.
48.56.050 - Revocation, suspension, or refusal to renew.
48.56.070 - Rules and regulations.
48.56.080 - Premium finance agreement.
48.56.100 - Delinquency charge—Cancellation charge.
48.56.110 - Cancellation of insurance contract.
48.56.120 - Cancellation of insurance contract—Return of unearned premiums.