Utah § 70C-6-202 Maximum amount of insurance.

Utah Statutes

§ 70C-6-202 — Maximum amount of insurance.

Utah § 70C-6-202

Title 70CUtah Consumer Credit Code

Ch. 70C-6Insurance

Part 70C-6-2Consumer Credit Insurance

This text of Utah § 70C-6-202 (Maximum amount of insurance.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70C-6-202 (2026).

Text

(1)With respect to a closed-end credit agreement:

(1)(a) in the case of consumer credit insurance providing life coverage, the amount of insurance may not initially exceed the debt and, if the debt is payable in installments, may not at any time exceed the greater of the scheduled or actual amount of the debt; and

(1)(b) in the case of any other consumer credit insurance, the total amount of periodic benefits payable may not exceed the total of scheduled unpaid installments of the debt, and the amount of any periodic benefit may not exceed the original amount of debt divided by the number of periodic installments in which it is payable.

(2)With respect to an open-end credit agreement:

(2)(a) in the case of consumer credit insurance providing life coverage, the amount of insurance may n

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(1) With respect to a closed-end credit agreement:

(1)(a) in the case of consumer credit insurance providing life coverage, the amount of insurance may not initially exceed the debt and, if the debt is payable in installments, may not at any time exceed the greater of the scheduled or actual amount of the debt; and
(1)(b) in the case of any other consumer credit insurance, the total amount of periodic benefits payable may not exceed the total of scheduled unpaid installments of the debt, and the amount of any periodic benefit may not exceed the original amount of debt divided by the number of periodic installments in which it is payable.
(2) With respect to an open-end credit agreement:

(2)(a) in the case of consumer credit insurance providing life coverage, the amount of insurance may not exceed the unpaid balance in the account at any point in time; and
(2)(b) in the case of any other consumer credit insurance, the total amount of periodic benefits payable may not exceed the total of scheduled installments to pay the unpaid balance of the debt at any point in time.