As used in this code, unless the context otherwise requires:

1. (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:

   1. (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;
   2. (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
   3. (c) Insurance indemnifying the creditor against loss due to the consumer's default.
2. (2) Credit Insurance Act means the Credit Insurance Act, article 10 of title 10, C.R.S.

Source: L. 2000: Entire article R&RE, p. 1225, § 1, effective July 1.

Editor's note: This section is similar to former § 5-4-103, as it existed prior to 2000.