§ 58-35-35. Excessive insurance premium finance charges; penalty. - North Carolina Statutes

§58‑35‑35.  Excessive insurance premium finance charges; penalty.

The knowingly taking,receiving, reserving, [or] charging a greater insurance premium finance chargethan that authorized in this Article shall be held and adjudged a forfeiture ofthe entire insurance premium finance charge which the insurance premium financeagreement carries with it, or which has been agreed to be paid thereon; and ifa greater insurance premium finance charge has been paid, the person paying thesame or his legal representative may recover from the insurance premium financecompany twice the entire amount of the insurance premium finance thus paid ifaction therefor is brought within two years from the time of such payment. (1963,c. 1118.)