Section 203 – Filing and approval of rates and forms.
70C-6-203. Filing and approval of rates and forms. (1) A creditor may use a form or a schedule of premium rates or charges concerning consumer credit insurance only if the form or schedule has been on file with the Insurance Department for at least 30 days and has not been disapproved by the Insurance Department […]
Section 301 – Property insurance.
70C-6-301. Property insurance. (1) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property related to the credit transaction unless: (a) the insurance covers a significant risk of loss of or damage to the property; (b) the amount, terms, and conditions of the insurance are […]
Section 103 – Creditor’s provision of and charge for insurance — Excess amount of charge.
70C-6-103. Creditor’s provision of and charge for insurance — Excess amount of charge. (1) Except as otherwise provided in this chapter, a creditor may agree to provide insurance. If insurance is not required, a charge for such insurance shall be separate from and in addition to other charges. A creditor shall separately disclose any charge […]
Section 101 – Scope — Relation to credit insurance — Applicability to parties.
70C-6-101. Scope — Relation to credit insurance — Applicability to parties. (1) Except as provided in Subsection (2), this chapter applies to insurance provided or to be provided in connection with any consumer credit transaction subject to this title. (2) The provision on cancellation by a creditor under Section 70C-6-304 applies to extensions of credit, […]
Section 102 – Definition — Consumer credit insurance.
70C-6-102. Definition — Consumer credit insurance. “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 […]