20-1612. Authorization for issuance of policies
A. Each policy, certificate of insurance, application for insurance, endorsement and rider of consumer credit insurance delivered or issued for delivery in this state shall be by an insurer authorized by the director to transact insurance in this state.
B. In any transaction where a premium is collected from, or a payment made by, a debtor for consumer credit insurance, each policy, certificate of insurance, application for insurance, endorsement and rider shall be solicited by and placed through a holder of a license issued by the director in accordance with chapter 2, article 3 of this title. Nothing in this section requires a creditor to be licensed as an insurance producer solely because the creditor enrolls individuals in or administers a subsisting contract of group insurance.
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.