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2023 Indiana Code
Title 24. Trade Regulation
Article 4.5. Uniform Consumer Credit Code
Chapter 4. Insurance
24-4.5-4-302. Insurance on Creditor's Interest Only
Universal Citation:
IN Code § 24-4.5-4-302 (2023)
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Sec. 302. Insurance on Creditor's Interest Only — If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the debtor is on the debtor only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.
Formerly: Acts 1971, P.L.366, SEC.5.
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