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CA SB1371
Bill
Status
11/30/2016
Primary Sponsor
Cathleen Galgiani
Click for details
AI Summary
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Amends Section 22315 of the Financial Code to authorize credit disability insurance to be offered on a monthly, annual, or single premium basis (previously limited to monthly or annual).
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Requires that when a monthly premium is offered, the monthly premium rate cannot exceed a pro rata relationship to the annual or single premium rate.
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Maintains existing requirements for credit disability insurance coverage periods, waiting periods, and eligibility thresholds (does not apply to loans of $10,000 or more).
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Removes previous provisions related to State Library online homework assistance programs that were in earlier versions of the bill.
Legislative Description
Credit disability insurance: premium payments.
Last Action
From Assembly without further action.
11/30/2016