16a-4-201 (UCCC) Term of insurance.
16a-4-201. (UCCC) Term of insurance. (1) Consumer credit insurance provided by a creditor may be subject to the furnishing of evidence of insurability satisfactory to the insurer. Whether or not such evidence is required, the term of the insurance shall commence no later than when the consumer becomes obligated to the creditor or when the […]
16a-4-202 (UCCC) Amount of insurance.
16a-4-202. (UCCC) Amount of insurance. (1) Except as provided in subsection (2): (a) In the case of consumer credit insurance providing life coverage, the amount of insurance may not initially exceed the debt and, if the debt is payable in installments, may not at any time exceed the greater of the scheduled or actual amount […]
16a-4-203 (UCCC) Filing and approval of rates and forms.
16a-4-203. (UCCC) Filing and approval of rates and forms. (1) A creditor may not use a form or a schedule of premium rates or charges, the filing of which is required by this section, if the commissioner of insurance has disapproved the form or schedule and has notified the insurer of his disapproval. A creditor […]
16a-4-301 (UCCC) Property insurance.
16a-4-301. (UCCC) Property insurance. (1) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless: (a) The insurance covers a substantial risk of loss of or damage to property related to the credit transaction; (b) the amount, terms, and conditions of the insurance are […]
16a-4-101 (UCCC) Short title.
16a-4-101. (UCCC) Short title. This article shall be known and may be cited as revised uniform consumer credit code—insurance. History: L. 1973, ch. 85, § 61; January 1, 1974.
16a-4-302 (UCCC) Insurance on creditor’s interest only.
16a-4-302. (UCCC) Insurance on creditor’s interest only. If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the consumer is on the consumer only to the extent of any deficiency in the effective coverage of the […]
16a-4-102 (UCCC) Scope.
16a-4-102. (UCCC) Scope. (1) Except as provided in subsection (2), this article applies to insurance provided or to be provided in relation to a consumer credit transaction. (2) The provision on cancellation by a creditor (section 16a-4-304) applies to loans the primary purpose of which is the financing of insurance. No other provision of this […]
16a-4-303 (UCCC) Liability insurance.
16a-4-303. (UCCC) Liability insurance. A creditor may not contract for or receive a separate charge for insurance against liability unless the insurance covers a substantial risk of liability arising out of the ownership or use of property related to the credit transaction. History: L. 1973, ch. 85, § 78; January 1, 1974.
16a-4-103 (UCCC) Definition: “Consumer credit insurance.”
16a-4-103. (UCCC) Definition: “Consumer credit insurance.” In this act “consumer credit insurance” means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include: (a) Insurance provided in relation to a credit transaction in which a payment is scheduled more than […]
16a-4-304 (UCCC) Cancellation by creditor.
16a-4-304. (UCCC) Cancellation by creditor. A creditor shall not request cancellation of a policy of property or liability insurance except after the consumer’s default or in accordance with a written authorization by the consumer, and in either case the cancellation does not take effect until written notice is delivered to the consumer or mailed to […]