Section 28-44-101 – SHORT TITLE.
28-44-101. SHORT TITLE. This chapter shall be known and may be cited as Idaho Credit Code – Insurance in Regulated Consumer Credit Transactions. History: [28-44-101, added 1983, ch. 119, sec. 3, p. 287.]
Section 28-44-102 – SCOPE — RELATION TO CREDIT INSURANCE ACT — APPLICABILITY TO PARTIES.
28-44-102. SCOPE — RELATION TO CREDIT INSURANCE ACT — APPLICABILITY TO PARTIES. (1) Except as provided in subsection (2) of this section, this chapter applies to insurance provided or to be provided in relation to a regulated consumer credit transaction, as defined in section 28-41-301, Idaho Code. (2) The provision on cancellation by a creditor, […]
Section 28-44-103 – CREDIT INSURANCE — CREDIT INSURANCE ACT — DEFINED.
28-44-103. CREDIT INSURANCE — CREDIT INSURANCE ACT — DEFINED. (1) In this act, "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 […]
Section 28-44-104 – CREDITOR’S PROVISION OF AND CHARGE FOR INSURANCE — EXCESS AMOUNT OF CHARGE.
28-44-104. CREDITOR’S PROVISION OF AND CHARGE FOR INSURANCE — EXCESS AMOUNT OF CHARGE. (1) Except as otherwise provided in this chapter and subject to the provision on maximum charges, section 28-42-201, Idaho Code, a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition […]
Section 28-44-105 – CONDITIONS APPLYING TO INSURANCE TO BE PROVIDED BY CREDITOR.
28-44-105. CONDITIONS APPLYING TO INSURANCE TO BE PROVIDED BY CREDITOR. If a creditor agrees with a debtor to provide insurance: (1) The insurance shall be evidenced by an individual policy, certificate of insurance, application or notice of proposed insurance, disclosed to debtor pursuant to the provisions of section 41-2308, Idaho Code; or (2) The creditor […]
Section 28-44-106 – UNCONSCIONABILITY.
28-44-106. UNCONSCIONABILITY. (1) In applying the provisions of this act on unconscionability, sections 28-45-106 and 28-46-111, Idaho Code, to a separate charge for insurance, consideration shall be given, among other factors, to: (a) Potential benefits to the debtor including the satisfaction of his obligations; (b) The creditor’s need for the protection provided by the insurance; […]
Section 28-44-107 – MAXIMUM CHARGE BY CREDITOR FOR INSURANCE.
28-44-107. MAXIMUM CHARGE BY CREDITOR FOR INSURANCE. (1) Except as provided in subsection (2) of this section, if a creditor contracts for or receives a separate charge for insurance, the amount charged to the debtor for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the […]
Section 28-44-108 – REFUND OR CREDIT REQUIRED — AMOUNT.
28-44-108. REFUND OR CREDIT REQUIRED — AMOUNT. (1) Upon prepayment in full of a regulated consumer credit sale or regulated consumer loan by the proceeds of credit insurance, the debtor or his estate is entitled to a refund of any portion of a separate charge for insurance which by reason of prepayment is retained by […]
Section 28-44-109 – EXISTING INSURANCE — CHOICE OF INSURER.
28-44-109. EXISTING INSURANCE — CHOICE OF INSURER. If a creditor requires insurance, upon notice to the creditor, the debtor, as provided in section 41-2313, Idaho Code, shall have the option of providing the required insurance through an existing policy of insurance owned or controlled by the debtor, or through a policy to be obtained and […]
Section 28-44-110 – CHARGE FOR INSURANCE IN CONNECTION WITH A DEFERRAL, REFINANCING, OR CONSOLIDATION — DUPLICATE CHARGES.
28-44-110. CHARGE FOR INSURANCE IN CONNECTION WITH A DEFERRAL, REFINANCING, OR CONSOLIDATION — DUPLICATE CHARGES. (1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral, section 28-42-302, Idaho Code, a refinancing, section 28-42-303, Idaho Code, or a consolidation, section 28-42-304, Idaho Code, unless: (a) The debtor […]
Section 28-44-111 – COOPERATION BETWEEN DEPARTMENTS.
28-44-111. COOPERATION BETWEEN DEPARTMENTS. The director of the department of finance and the director of the department of insurance are authorized and directed to consult and assist one another in maintaining compliance with this chapter. They may jointly pursue investigations, prosecute suits, and take other official action, as may seem to them appropriate, if either […]