Indiana § 24-4.5-4-103 "Consumer credit insurance" defined

Indiana Statutes

§ 24-4.5-4-103 — "Consumer credit insurance" defined

Indiana·Art. 4.5 UNIFORM CONSUMER CREDIT CODE·Ch. 4 Insurance

In this article, "consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:

(1)insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or

(2)insurance indemnifying the creditor against loss due to the debtor's default. Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.153-1986, SEC.2.

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In this article, "consumer credit
insurance" means insurance, other than insurance on property, by
which the satisfaction of debt in whole or in part is a benefit provided,
but does not include:
(1) insurance issued as an isolated transaction on the part of the
insurer not related to an agreement or plan for insuring debtors of
the creditor; or
(2) insurance indemnifying the creditor against loss due to the
debtor's default.
Formerly: Acts 1971, P.L.366, SEC.5. As amended by
P.L.153-1986, SEC.2.

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