§ 24-4.5-4-106 — Unconscionability

Unconscionability — (1) In applying the
provisions of the Article on unconscionability (24-4.5-5-108 and
24-4.5-6-111) to a separate charge for insurance, consideration shall be
given, among other factors, to
(a) potential benefits to the debtor including the satisfaction of his
obligations;
(b) the creditor's need for the protection provided by the insurance;
and
(c) the relation between the amount and terms of credit granted and
the insurance benefits provided.
(2) If consumer credit insurance otherwise complies with this
Chapter and other applicable law, neither the amount nor the term of
the insurance nor the amount of a charge therefor is in itself
unconscionable.
Formerly: Acts 1971, P.L.366, SEC.5.