C.R.S. Section 5-4-103
Definitions

  • “consumer credit insurance”
  • “Credit Insurance Act”
As used in this code, unless the context otherwise requires:

(1)

“Consumer 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, as to which a finance charge is imposed and provided in relation to a credit transaction in which a payment is scheduled more than ten 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 consumers of the creditor; or

(c)

Insurance indemnifying the creditor against loss due to the consumer’s default.

(2)

“Credit Insurance Act” means the “Credit Insurance Act”, article 10 of title 10, C.R.S.

Source: Section 5-4-103 — Definitions - "consumer credit insurance" - "Credit Insurance Act", https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-05.­pdf (accessed Oct. 20, 2023).

Green check means up to date. Up to date

Current through Fall 2024

§ 5-4-103’s source at colorado​.gov