(1) As used in this code, unless the context otherwise requires: (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: (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; (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 (c) Insurance indemnifying the creditor against loss due to the consumer’s default. (2) “Credit Insurance Act” means the “Credit Insurance Act”, article 10 of title 10, C.R.S.
(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: (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; (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 (c) Insurance indemnifying the creditor against loss due to the consumer’s default.
(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;
(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
(c) Insurance indemnifying the creditor against loss due to the consumer’s default.
(2) “Credit Insurance Act” means the “Credit Insurance Act”, article 10 of title 10, C.R.S.