{"data":{"id":"us-dc/d.c.-code-31-1109","jurisdiction":"us-dc","citation":"D.C. Code § 31-1109","heading":"Service charges.","body":"(a)\nA premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by this chapter.\n\n(b)\nThe service charge is to be computed on the balance of the premiums due (after subtracting the downpayment 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.\n\n(c)\nThe service charge shall be a maximum of $10 per $100 per year plus an additional charge of $20 per premium finance contract which need not be refunded upon cancellation or prepayment.","path":["Title 31. Insurance and Securities.","Chapter 11. Insurance Premium Finance Companies."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/31-1109","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"4ff5b04bd35536cb4ad127b16238cb31028feec08af96b5ff1fc2b6af7e28246","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-31-1108","next":"us-dc/d.c.-code-31-1110"},"notice":"GroundRules: Original legal text. Not legal advice."}