There is a newer version of this Section
2022
2021
2020
2019
2018 (you are here)
Other previous versions
View our newest version here

2018 Kentucky Revised Statutes
CHAPTER 304 - INSURANCE CODE
Subtitle 19 - Credit Life Insurance and Credit Health Insurance
304.19-020 Definitions.

Universal Citation: KY Rev Stat § 304.19-020 (2018)
Previous Next

Download as PDF
304.19-020 Definitions. For the purpose of this subtitle: (1) "Credit life insurance" means insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction; (2) "Credit health insurance" means insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy; (3) "Creditor" means the lender of money or vendor or lessor of goods, services, or property, rights or privileges, for which payment is arranged through a credit transaction, or any successor to the right, title or interest of any such lender, vendor, or lessor, and an affiliate, associate or subsidiary of any of them, or any director, officer or employee of any of them, or any other person in any way associated with any of them; (4) "Debtor" means a borrower of money or a purchaser or lessee of goods, services, property, rights or privileges for which payment is arranged through a credit transaction; (5) "Indebtedness" means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction; (6) "Joint credit life or credit health" shall mean insurance on the life of the debtor and the spouse of the debtor, partners, or any other legal cosigner. Effective: July 15, 1980 History: Amended 1980 Ky. Acts ch. 363, sec. 2, effective July 15, 1980. -- Created 1970 Ky. Acts ch. 301, subtit. 19, sec. 2, effective June 18, 1970.
Previous Next
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.