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2022 Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 44 - INSURANCE
Part 1 - INSURANCE IN GENERAL
Section 28-44-103 - CREDIT INSURANCE — CREDIT INSURANCE ACT — DEFINED.

Universal Citation:
ID Code § 28-44-103 (2022)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

28-44-103. CREDIT INSURANCE — CREDIT INSURANCE ACT — DEFINED. (1) In this act, "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:

(a) Insurance provided in relation to a credit transaction in which a payment is scheduled more than fifteen (15) years after the extension of credit;

(b) 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

(c) Insurance indemnifying the creditor against loss due to the debtor’s default.

(2) "Credit Insurance Act" means chapter 23, title 41, Idaho Code.

History:

[28-44-103, added 1983, ch. 119, sec. 3, p. 288.]

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