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, […]
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 […]
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 […]
70C-6-104. 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 30 days after the term […]
70C-6-105. Maximum charge by creditor for insurance. If a creditor contracts for or receives a separate charge for insurance, the amount charged the debtor for the insurance may not exceed the premium to be charged by the insurer, without deduction for commissions, as computed at the time the charge to the debtor is determined, conforming […]
70C-6-106. Refund or credit required — Amount. (1) A debtor or his estate is entitled to any rebate or refund due from an insurer and to any unearned part of a separate charge for insurance previously paid by the debtor, resulting from the prepayment of a consumer credit debt, except when all refunds and credits […]
70C-6-107. Existing insurance — Choice of insurer. If a creditor requires insurance, upon notice to the creditor the debtor may provide 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 the creditor may for reasonable […]
70C-6-108. Charge for insurance in connection with a deferral, refinancing, or consolidation — Duplicate charges. A creditor may contract for and receive a separate charge for insurance in connection with a deferral, a refinancing, or a consolidation if: (1) the debtor agrees at or before the time of the deferral, refinancing, or consolidation that the […]
