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DBO - Third Quarter 2014 Call Report

 

Premium finance corporations are required to submit quarterly unaudited financial statements in accordance with California Financial Code § 18407.  Pursuant to CFC § 18407, these reports shall be prepared in accordance with generally accepted accounting principles and consisting of at least a balance sheet and a statement of income as of the date and for the period specified by the commissioner.
Starting this quarter, quarterly unaudited financial statement filings may now be made via email.  Send reports as an Excel attachment to an email to PFC.CallReports@dbo.ca.gov on or before Thursday, October 30, 2014.  Questions may be directed to Lisa Huang at Lisa.Huang@dbo.ca.gov. Premium finance companies that prefer to send their reports by postal mail should mail them to:

Lisa Huang
Senior Financial Institution Examiner
Department of Business Oversight
45 Fremont Street, Suite 1700
San Francisco, CA  94105-2219

Please note that pursuant to CFC § 18412, "the commissioner shall assess and collect a penalty of one hundred dollars ($100) for each day which that report is delayed or withheld by the failure or neglect of that industrial loan company".

Also, please note that Patrick Lum, who was formerly the manager of the Premium Finance Company (PFC) Program has retired.  Starting June 1, 2014 the PFC Program manager is now Patrick Carroll.  He can be reached at (415) 263-8559 or by email at Patrick.Carroll@dbo.ca.gov.

Sincerely,

JAN LYNN OWEN
Commissioner of Financial Institutions

By
PATRICK C. CARROLL
Strategic Support Manager