24-4.5-4-101. Short Title
Sec. 101. Short Title — This Chapter shall be known and may be cited as Uniform Consumer Credit Code – Insurance. Formerly: Acts 1971, P.L.366, SEC.5.
24-4.5-4-101. Short Title
Sec. 101. Short Title — This Chapter shall be known and may be cited as Uniform Consumer Credit Code – Insurance. Formerly: Acts 1971, P.L.366, SEC.5.
24-4.5-4-102. Application; Relation to Credit Insurance Act
Sec. 102. (1) Except as provided in subsection (2), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale (IC 24-4.5-1-301.5(8)), a consumer lease (IC 24-4.5-2-106), or a consumer loan (IC 24-4.5-1-301.5(9)). (2) The provision on cancellation by a creditor (IC 24-4.5-4-304) applies to loans the primary purpose […]
24-4.5-4-102. Application; Relation to Credit Insurance Act
Sec. 102. (1) Except as provided in subsection (2), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale (IC 24-4.5-1-301.5(8)), a consumer lease (IC 24-4.5-2-106), or a consumer loan (IC 24-4.5-1-301.5(9)). (2) The provision on cancellation by a creditor (IC 24-4.5-4-304) applies to loans the primary purpose […]
24-4.5-4-103. “Consumer Credit Insurance” Defined
Sec. 103. In this article, “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: (1) insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for […]
24-4.5-4-103. “Consumer Credit Insurance” Defined
Sec. 103. In this article, “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: (1) insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for […]
24-4.5-4-104. Creditor’s Provisions of and Charge for Insurance; Excess Amount of Charge
Sec. 104. Creditor’s Provisions of and Charge for Insurance; Excess Amount of Charge – (1) Except as otherwise provided in this Chapter and subject to the provisions on additional charges (IC 24-4.5-2-202 and IC 24-4.5-3-202) and maximum charges (Part 2 of Chapter 2 and Chapter 3), a creditor may agree to provide insurance, and may […]
24-4.5-4-104. Creditor’s Provisions of and Charge for Insurance; Excess Amount of Charge
Sec. 104. Creditor’s Provisions of and Charge for Insurance; Excess Amount of Charge – (1) Except as otherwise provided in this Chapter and subject to the provisions on additional charges (IC 24-4.5-2-202 and IC 24-4.5-3-202) and maximum charges (Part 2 of Chapter 2 and Chapter 3), a creditor may agree to provide insurance, and may […]
24-4.5-4-105. Conditions Applying to Insurance to Be Provided by Creditor
Sec. 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 or certificate of insurance delivered to the debtor, or sent to him at his address as stated by him, within thirty (30) days […]
24-4.5-4-105. Conditions Applying to Insurance to Be Provided by Creditor
Sec. 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 or certificate of insurance delivered to the debtor, or sent to him at his address as stated by him, within thirty (30) days […]
24-4.5-4-106. Unconscionability
Sec. 106. Unconscionability — (1) In applying the provisions of the Article on unconscionability (24-4.5-5-108 and 24-4.5-6-111) 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; and […]
24-4.5-4-106. Unconscionability
Sec. 106. Unconscionability — (1) In applying the provisions of the Article on unconscionability (24-4.5-5-108 and 24-4.5-6-111) 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; and […]
24-4.5-4-107. Maximum Charge by Creditor for Insurance; Methods for Calculating Charge
Sec. 107. Maximum Charge by Creditor for Insurance – (1) Except as provided in subsection (2), 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 charge […]
24-4.5-4-107. Maximum Charge by Creditor for Insurance; Methods for Calculating Charge
Sec. 107. Maximum Charge by Creditor for Insurance – (1) Except as provided in subsection (2), 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 charge […]
24-4.5-4-108. Prepayment by Proceeds of Consumer Credit Insurance; Refund Required; Documentation; Amount; Interest; Civil Penalty
Sec. 108. Refund or Credit Required; Amount — (1) Upon prepayment in full of a consumer credit sale or consumer loan by the proceeds of consumer credit insurance, the debtor or the debtor’s estate is entitled to a refund of: (a) any portion of a separate charge for insurance which by reason of prepayment is […]
24-4.5-4-108. Prepayment by Proceeds of Consumer Credit Insurance; Refund Required; Documentation; Amount; Interest; Civil Penalty
Sec. 108. Refund or Credit Required; Amount — (1) Upon prepayment in full of a consumer credit sale or consumer loan by the proceeds of consumer credit insurance, the debtor or the debtor’s estate is entitled to a refund of: (a) any portion of a separate charge for insurance which by reason of prepayment is […]
24-4.5-4-109. Existing Insurance; Choice of Insurer
Sec. 109. Existing Insurance; Choice of Insurer — If a creditor requires insurance, upon notice to the creditor the debtor 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 paid for by the debtor, but […]
24-4.5-4-109. Existing Insurance; Choice of Insurer
Sec. 109. Existing Insurance; Choice of Insurer — If a creditor requires insurance, upon notice to the creditor the debtor 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 paid for by the debtor, but […]
24-4.5-4-110. Charge for Insurance Connection With a Deferral, Refinancing, or Consolidation; Duplicate Charges
Sec. 110. (1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (IC 24-4.5-2-204 or IC 24-4.5-3-204), a refinancing (IC 24-4.5-2-205 or IC 24-4.5-3-205), or a consolidation (IC 24-4.5-2-206 or IC 24-4.5-3-206), unless: (a) the debtor agrees at or before the time of the deferral, refinancing, […]
24-4.5-4-110. Charge for Insurance Connection With a Deferral, Refinancing, or Consolidation; Duplicate Charges
Sec. 110. (1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (IC 24-4.5-2-204 or IC 24-4.5-3-204), a refinancing (IC 24-4.5-2-205 or IC 24-4.5-3-205), or a consolidation (IC 24-4.5-2-206 or IC 24-4.5-3-206), unless: (a) the debtor agrees at or before the time of the deferral, refinancing, […]