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 […]
70C-6-302. 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 debtor is on the debtor only to the extent of any deficiency in the effective coverage of the insurance, […]
70C-6-303. Liability insurance. A creditor may not contract for or receive a separate charge for insurance against liability arising out of the ownership or use of property related to the credit transaction, unless the insurance covers a significant risk of liability. Enacted by Chapter 159, 1985 General Session
70C-6-304. Cancellation by creditor. A creditor may not request cancellation of a policy of property or liability insurance except after the debtor’s default or in accordance with a written authorization by the debtor, and in either case the cancellation does not take effect until written notice is delivered to the debtor or mailed to him […]
