West Virginia Statutes
§ 33-11A-11 — Insurance in connection with a loan
(a)If insurance is required as a condition of obtaining a loan, the credit and insurance transactions shall be completed independently and through separate documents.
(b)A loan for premiums on required insurance shall not be included in the primary credit without the written consent of the customer.
(c)No title insurance shall be issued until the title insurance company has obtained a title opinion of an attorney licensed to practice law in West Virginia, which attorney is not an employee, agent, or owner of the insured bank or its affiliates. Said attorney shall have conducted or cause to have conducted under the attorney's direct supervision a reasonable examination of the title. In no event shall the authority of a state-chartered bank to sell title insurance exceed the authority o
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West Virginia § 33-11A-11 (Insurance in connection with a loan) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1997 Reg. Sess., HB2198
Nearby Sections
15
§ 33-1-1
Insurance§ 33-1-10
Kinds of insurance defined§ 33-1-11
Reinsurance§ 33-1-12
Agent§ 33-1-13
Solicitor§ 33-1-14
Broker§ 33-1-15
Reciprocal insurance§ 33-1-16
Policy§ 33-1-17
Premium§ 33-1-18
Stock insurer§ 33-1-19
Mutual insurer§ 33-1-2
Insurer§ 33-1-21
Emergency services