Should a borrower be more than 10 days delinquent in paying the premium charges or inspection fees for insurance under this chapter, the office shall notify the borrower in writing. If that payment remains delinquent more than 30 days after the sending of the office’s notice to the borrower, the office shall make every reasonable effort to notify the lender in writing. If that delinquency continues, on the 31st day after sending of the office’s notice to the lender, the insurance shall be terminated and become null and void.
(Added by Stats. 1995, Ch. 415, Sec. 9. Effective January 1, 1996.)
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