Consumer credit insurance may be issued only in the following forms:

1. 1. Individual life Individual policies of life insurance issued to debtors on the term plan;

   [PL 1969, c. 132, §1 (NEW).]

2. 2. Individual accident and health Individual policies of health insurance issued to debtors on a term plan, or disability benefit provisions in individual policies of credit life insurance;

   [PL 1969, c. 132, §1 (NEW).]

3. 3. Group life Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;

   [PL 1969, c. 132, §1 (NEW).]

4. 4. Group accident and health Group policies of health insurance issued to creditors on a term plan insuring debtors, or disability benefit provisions in group credit life insurance policies to provide such coverage;

   [PL 1969, c. 132, §1 (NEW).]

5. 4-A. Individual credit property insurance Individual policies of property insurance on property that is purchased on credit or pledged as collateral on a loan when the insurance is purchased by or issued to the debtor in connection with that loan or credit transaction;

   [PL 2001, c. 138, §8 (NEW).]

6. 4-B. Group credit property insurance Group policies of property insurance on property that is purchased on credit or pledged as collateral on a loan when the insurance is purchased by or issued to the debtor in connection with that loan or credit transaction;

   [PL 2001, c. 138, §8 (NEW).]

7. 4-C. Individual credit involuntary unemployment insurance Individual involuntary unemployment policies insuring a debtor pursuant to or in connection with a specific loan or other credit transaction but not including disability insurance policies;

   [PL 2001, c. 138, §8 (NEW).]

8. 4-D. Group credit involuntary unemployment insurance Group involuntary unemployment policies insuring a debtor pursuant to or in connection with a specific loan or other credit transaction but not including disability insurance policies; or

   [PL 2001, c. 138, §8 (NEW).]

9. 5. Combination A combination under subsections 1 and 2, or under 3 and 4.

   [PL 1969, c. 132, §1 (NEW).]

PL 1969, c. 132, §1 (NEW). PL 2001, c. 138, §8 (AMD).