Indiana § 24-4.5-4-110 Charge for insurance connection with a deferral, refinancing, or
consolidation; duplicate charges

Indiana Statutes

§ 24-4.5-4-110 — Charge for insurance connection with a deferral, refinancing, or consolidation; duplicate charges

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

(1)A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (IC 24-4.5-2-204 or IC 24-4.5-3-204), a refinancing (IC 24-4.5-2-205 or IC 24-4.5-3-205), or a consolidation (IC 24-4.5-2-206 or IC 24-4.5-3-206), unless:

(a)the debtor agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made;

(b)the debtor is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which he would have been entitled had there been no deferral, refinancing, or consolidation;

(c)the debtor receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated (IC 24-4.5-4-108); and

(d)th

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(1) A creditor may not contract for or
receive a separate charge for insurance in connection with a deferral
(IC 24-4.5-2-204 or IC 24-4.5-3-204), a refinancing (IC 24-4.5-2-205
or IC 24-4.5-3-205), or a consolidation (IC 24-4.5-2-206 or IC 24-4.5-3-206), unless:
(a) the debtor agrees at or before the time of the deferral,
refinancing, or consolidation that the charge may be made;
(b) the debtor is or is to be provided with insurance for an amount
or a term, or insurance of a kind, in addition to that to which he
would have been entitled had there been no deferral, refinancing,
or consolidation;
(c) the debtor receives a refund or credit on account of any
unexpired term of existing insurance in the amount that would be
required if the insurance were terminated (IC 24-4.5-4-108); and
(d) the charge does not exceed the amount permitted by this
chapter (IC 24-4.5-4-107).
(2) A creditor may not contract for or receive a separate charge for
insurance which duplicates insurance with respect to which the creditor
has previously contracted for or received a separate charge.
Formerly: Acts 1971, P.L.366, SEC.5. As amended by
P.L.152-1986, SEC.66.

Indiana § 24-4.5-4-110 (Charge for insurance connection with a deferral, refinancing, or consolidation; duplicate charges) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.