§58-57-10. Forms of insurance which are authorized

Latest version.

Credit life insurance and credit accident and health insurance shall be issued only in the following forms:

(1)        Individual policies of life insurance issued to debtors on the term plan;

(2)        Individual policies of accident and health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance;

(3)        Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;

(4)        Group policies of accident and health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage.

(1975, c. 660, s. 1.)

                    
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