North Carolina Administrative Code
Title 11 - INSURANCE
Chapter 13 - AGENT SERVICES DIVISION - NON-INSURANCE ENTITIES
Section .0300 - INSURANCE PREMIUM FINANCE COMPANIES
Section 13 .0323 - COMPUTATION OF SERVICE CHARGES

(1) from the inception date of the insurance contract, the premiums for which are advanced or to be advanced under the agreement, to and including the date when the final installment of the premium finance agreement is payable; If the premium finance agreement is executed later than 30 days after such inception date, there shall be deducted from the amount of the service charge an amount which bears the same proportion to the service charge, as the number of days from the 30th day after the policy inception date until the day of execution of the premium finance agreement, bears to the number of days from the policy inception to the date when the final installment of the premium finance agreement is payable. No deduction shall be required under this Paragraph, however, if the amount thereof is less than one dollar ($1.00);

(2) from the date the premium finance agreement is executed or any date after the premium finance agreement is executed, to and including the date when the final installment of the premium finance agreement is payable; provided the service charge does not begin prior to the inception date of the insurance contract, the premiums for which are advanced or to be advanced under the agreement.