20-1606.01. Credit unemployment insurance; provisions
A. A credit unemployment insurance policy shall contain benefits that are at least as favorable to insureds as the following provisions:
1. The policy shall provide coverage for unemployment for any reason, except that coverage may be excluded for unemployment due to:
(a) Voluntary forfeiture of salary, wage or other employment income.
(b) Resignation.
(c) Retirement.
(d) General strike.
(e) Illegal walk out.
(f) War.
(g) Separation from the military.
(h) Willful misconduct, criminal misconduct or unlawful behavior.
(i) Disability caused by injury, sickness or pregnancy.
2. For credit unemployment insurance that provides a monthly benefit, benefits shall start after a waiting period of no more than thirty days, but need not be retroactive to the first day of unemployment and shall have a maximum benefit period of at least six months.
B. A credit unemployment insurance policy shall not contain eligibility requirements more restrictive than the following:
1. The policy may exclude from qualification for coverage:
(a) A self-employed individual.
(b) A worker in a seasonal or temporary job. For the purposes of this subdivision, " seasonal or temporary job" means a job designed to last no more than six consecutive months.
(c) A debtor who has been notified in writing of any layoff or employment termination that is to occur within sixty days of the date coverage begins.
2. The policy shall not have an employment requirement more restrictive than requiring a debtor to be employed full-time on the effective date of coverage for at least six consecutive months before the effective date of coverage. For the purposes of this paragraph, " full-time" means a regular work week of not less than thirty hours.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.