31A-22-803 - Forms of insurance permitted.
31A-22-803. Forms of insurance permitted.
Credit life insurance and credit accident and health insurance may be issued only in thefollowing forms:
(1) individual policies of term life insurance issued to debtors;
(2) individual policies of term accident and health insurance issued to debtors, or accidentand health benefit provisions in individual policies of credit life insurance;
(3) group policies of term life insurance issued to creditors, providing insurance upon thelives of debtors;
(4) group policies of term accident and health insurance issued to creditors insuringdebtors, or accident and health benefit provisions in group credit life insurance policies.
Amended by Chapter 116, 2001 General Session