Colorado Statutes
§ 10-10-119 — Truncated coverage
(1)If the debtor elects truncated coverage,
at the time of election the creditor shall inform the debtor in writing of the term of
the insurance coverage and that the coverage will terminate prior to the scheduled
maturity date of the indebtedness.
(2)A group certificate or individual policy providing truncated credit
insurance coverage shall disclose the term of the truncated insurance coverage
and specify that the term of insurance coverage will terminate prior to the
scheduled maturity date of the indebtedness. The termination disclosure shall
appear in prominent type on the first page of the group certificate or individual
policy.
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Legislative History
Source: L. 2000: Entire section added, p. 151, � 2, effective August 2.
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