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2024 Statute
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16a-4-109. (UCCC) Existing insurance; choice of insurer; notice of option. If a creditor requires insurance, the consumer shall have the option of providing the required insurance through an existing policy of insurance owned or controlled by the consumer, or through a policy obtained and paid for by the consumer, but the creditor may for reasonable cause decline the insurance provided by the consumer. The creditor shall provide the consumer with a written notice on the loan agreement or other instrument fully informing the consumer of the option authorized by this section. |
History: L. 1973, ch. 85, § 69; L. 1988, ch. 153, § 2; L. 2024, ch. 6, § 88; January 1, 2025. |
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2026. Powered by KLISS. Rendered: 2026-03-17T08:07:31. Head Rev No: 1485844(I)