Credit life insurance and credit accident and health insurance shall be issued only in the following forms:

1. (1) Individual policies of life insurance issued to debtors on the term plan;
2. (2) Individual policies of accident and health insurance issued to debtors on a term plan or disability provisions in individual life policies to provide such coverage;
3. (3) Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan; and
4. (4) Group policies of accident and health insurance issued to creditors on a term plan insuring debtors or disability provisions in group life policies to provide such coverage.

History

Sept. 25, 1962, 76 Stat. 581, Pub. L. 87-686, § 3

Prior Codifications

1973 Ed., § 35-1603.

1981 Ed., § 35-1003.