District of Columbia Statutes
§ 26-1152.03 — Restrictions on the financing of single-premium credit insurance.
District of Columbia § 26-1152.03
JurisdictionDistrict of Columbia
Title 26Banks and Other Financial Institutions.
Ch. 11AHome Loan Protection.
Subch. IIProhibited Practices.
This text of District of Columbia § 26-1152.03 (Restrictions on the financing of single-premium credit insurance.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
D.C. Code § 26-1152.03 (2026).
Text
A lender shall not sell any individual or group credit life, accident, health, or unemployment insurance product on a prepaid single premium basis in conjunction with a covered loan. Credit insurance sold by a lender on a basis other than a prepaid single premium shall be accompanied by a clear and conspicuous disclosure, provided at least 3 days before closing, stating that the credit insurance shall not be a condition to the extension of mortgage credit and that the borrower may elect not to purchase the insurance. Insurance premiums or debt cancellation or suspension fees calculated and paid on a monthly or bi-weekly basis shall not be considered financed by the lender; provided, that the disclosure required by this section shall be provided to the borrower for any insurance, debt cance
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
May 7, 2002, D.C. Law 14-132, § 203, 49 DCR 2551
Nearby Sections
15
§ 26-1001
Definitions.§ 26-1002
License required.§ 26-1003
Exemptions.§ 26-1004
License qualifications.§ 26-1006
License application.§ 26-1007
Bond or other security device.§ 26-1008
Application fee.§ 26-1009
Issuance of license.§ 26-1011
Special reporting requirements.§ 26-1012
Changes in control of a licensee.§ 26-1013
Examinations.§ 26-1014
Maintenance of records.Cite This Page — Counsel Stack
Bluebook (online)
District of Columbia § 26-1152.03, Counsel Stack Legal Research, https://law.counselstack.com/statute/dc/26-1152.03.