2018 Oklahoma Statutes
Title 14A. Consumer Credit Code
§14A-4-103. Definition: "Consumer credit insurance".

As used in the Uniform Consumer Credit Code, "consumer credit insurance" means insurance, other than insurance on property as provided for in Section 4-301 of this title, 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; or

(b)insurance issued as an isolated transaction 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.

Added by Laws 1969, c. 352, § 4-103, eff. July 1, 1969. Amended by Laws 1984, c. 41, § 1, eff. Nov. 1, 1984.

Disclaimer: These codes may not be the most recent version. Oklahoma 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.