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May 24, 2024 Clouds | 62°F
The 193rd General Court of the Commonwealth of Massachusetts

Section 14: Excessive charges

Section 14. A premium finance agency shall not, except as otherwise provided by law, take or receive from an insured greater charges than are provided by section one hundred and sixty-two B of chapter one hundred and seventy-five, and the regulations issued thereunder, which charges shall commence as of the date from which the insurance company requires payment of the premium and payment was made to the insurance company for the financed policy, or the effective date of the policy, whichever is earlier.