Section 2115 - Licensee to Compare Statement and Policy and Make AdjustmentEvery dealer or dealer's subsidiary shall, within a reasonable time after entering into a motor vehicle insurance transaction
(a) Compare the gross premium, insurance coverage and the term thereof set forth in the statement referred to in Section 2114 with the policy or certificate of insurance issued by the insurer.(b) Shall adjust the coverage and term in the policy to conform to the statement described in Section 2114 by securing any necessary endorsement from the insurer, and(c) Shall adjust any difference in the premium by making a refund or additional charge, as the case may be, to the purchaser so that the charge for the insurance coverage as contained in the statement referred to in Section 2114 conforms to the premium set forth in the policy or certificate of insurance. To the extent that Chapter 2b of Division 3 of Part 4 of Title 14 of the Civil Code prescribes the procedure, time or amount of such charges or refunds they shall be governed thereby. Otherwise any refund herein referred to may be made only in the following ways: (1) By cash or check, immediately,(2) By crediting the next payments due on the purchaser's contract of sale, or(3) By crediting the last payments due on the purchaser's contract of sale; in which event such refund shall include a refund of all finance, interest, time price differential, service charges or other fees properly allocable to the amount of the refund from the inception of the contract.(4) If the contract of sale has been assigned, sold or transferred, by payment to the holder thereof with instructions to credit or pay the refund in any one of the three preceding alternative ways.Cal. Code Regs. Tit. 10, § 2115
1. Amendment filed 9-5-61; designated effective 1-1-62 (Register 61, No. 18). 1. Amendment filed 9-5-61; designated effective 1-1-62 (Register 61, No. 18).