Title 28, COMMERCIAL TRANSACTIONS

28-43-305. Authorization to confess judgment prohibited. A debtor may not authorize any person to confess judgment on a claim arising out of a regulated consumer credit transaction. An authorization in violation of this section is void.

28-43-306. Certain negotiable instruments prohibited. With respect to a regulated consumer credit sale, the creditor may not take a negotiable instrument other than a check dated not later than ten (10) days after its issuance as evidence of the obligation of the debtor.

28-43-307. Balloon payments. (1) Except as provided in subsection (2) of this section, if any scheduled payment of a regulated consumer credit transaction is more than twice as large as the average of earlier scheduled payments, the debtor has the right to refinance, without pena…

28-43-308. Referral sales. With respect to a regulated consumer credit sale, the seller may not give or offer to give a rebate or discount or otherwise pay or offer to pay value to the debtor as an inducement for a sale for the debtor giving to the seller the names of prospective…

28-43-309. Restrictions on interest in land as security. With respect to a regulated consumer loan in which the principal is one thousand dollars ($1,000) or less, a regulated lender may not contract for an interest in land as security. A security interest taken in violation of t…

28-43-310. Regular schedule of payments — Maximum loan term. Regulated consumer loans, not made pursuant to open-end credit and in which the principal is one thousand dollars ($1,000) or less, shall be scheduled to be payable in substantially equal installments at equal periodic …

28-43-311. Limitation on attorney fees. With respect to a regulated consumer loan in which the principal is one thousand dollars ($1,000) or less, the agreement may not provide for the payment by the debtor of attorney’s fees. A provision in violation of this section is unenforce…

28-43-312. Attorney’s fees. Except as provided by the provisions on limitations on attorney’s fees as to certain regulated consumer loans, section 28-43-311, Idaho Code, with respect to a regulated consumer credit transaction the agreement may provide for the payment by the debto…

28-43-401. Home solicitation sale defined. "Home solicitation sale" means a regulated consumer credit sale of goods or services, in which the seller or a person acting for him personally solicits the sale, and the buyer’s agreement or offer to purchase is given to the seller or a…

28-43-402. Buyer’s right to cancel. (1) In addition to any right otherwise to revoke an offer, the buyer may cancel a home solicitation sale until midnight of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with this …

28-43-403. Form of agreement or offer — Statement of buyer’s rights. (1) In a home solicitation sale, the seller shall present to the buyer and obtain his signature to a written agreement or offer to purchase that designates as the date of the transaction the date on which the bu…

28-43-404. Restoration of down payment. (1) Within ten (10) days after a notice of cancellation has been received by the seller or an offer to purchase has been otherwise revoked, the seller shall tender to the buyer any payments made by the buyer, any note or other evidence of i…

28-43-405. Duty of buyer — No compensation for services before cancellation. Except as provided by the provisions on retention of goods by the buyer, subsection (3) of section 28-43-404, Idaho Code, and allowing for ordinary wear and tear or consumption of the goods contemplated …

28-44-101. Short title. This chapter shall be known and may be cited as Idaho Credit Code – Insurance in Regulated Consumer Credit Transactions.

28-44-102. Scope — Relation to Credit Insurance Act — Applicability to parties. (1) Except as provided in subsection (2) of this section, this chapter applies to insurance provided or to be provided in relation to a regulated consumer credit transaction, as defined in section 28-…

28-44-103. Credit insurance — Credit Insurance Act — Defined. (1) In this act, "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 provided in relati…

28-44-104. Creditor’s provision of and charge for insurance — Excess amount of charge. (1) Except as otherwise provided in this chapter and subject to the provision on maximum charges, section 28-42-201, Idaho Code, a creditor may agree to provide insurance, and may contract for …

28-44-105. Conditions applying to insurance to be provided by creditor. If a creditor agrees with a debtor to provide insurance: (1) The insurance shall be evidenced by an individual policy, certificate of insurance, application or notice of proposed insurance, disclosed to debto…

28-44-106. Unconscionability. (1) In applying the provisions of this act on unconscionability, sections 28-45-106 and 28-46-111, Idaho Code, to a separate charge for insurance, consideration shall be given, among other factors, to: (a) Potential benefits to the debtor including t…

28-44-107. Maximum charge by creditor for insurance. (1) Except as provided in subsection (2) of this section, if a creditor contracts for or receives a separate charge for insurance, the amount charged to the debtor for the insurance may not exceed the premium to be charged by t…

28-44-108. Refund or credit required — Amount. (1) Upon prepayment in full of a regulated consumer credit sale or regulated consumer loan by the proceeds of credit insurance, the debtor or his estate is entitled to a refund of any portion of a separate charge for insurance which …

28-44-109. Existing insurance — Choice of insurer. If a creditor requires insurance, upon notice to the creditor, the debtor, as provided in section 41-2313, Idaho Code, shall have the option of providing the required insurance through an existing policy of insurance owned or con…

28-44-110. Charge for insurance in connection with a deferral, refinancing, or consolidation — Duplicate charges. (1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral, section 28-42-302, Idaho Code, a refinancing, section 28…

28-44-111. Cooperation between departments. The director of the department of finance and the director of the department of insurance are authorized and directed to consult and assist one another in maintaining compliance with this chapter. They may jointly pursue investigations,…

28-44-201. Term of insurance. (1) Credit insurance provided by a creditor may be subject to the furnishing of evidence of insurability satisfactory to the insurer. Whether or not such evidence is required, the term of the insurance shall commence no later than when the debtor bec…

28-44-202. Amount of insurance. (1) Except as provided in subsection (2) of this section: (a) In the case of credit insurance providing life coverage on an individual policy basis, the amount of insurance may not initially exceed the debt and, if the debt is payable in installmen…

28-44-203. Filing and approval of rates and forms. (1) A creditor may not use a form or a schedule of premium rates or charges, the filing of which is required by this section, if the director of the department of insurance has disapproved the form or schedule and has notified th…

28-44-301. Property insurance. (1) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless the creditor qualifies under chapter 9, title 41, Idaho Code, or rule or regulation prescribed by the director of the departm…

28-44-302. Insurance on creditor’s interest only. If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the debtor is on the debtor only to the extent of any deficiency in …

28-44-303. Liability insurance. A creditor may not contract for or receive a separate charge for insurance against liability unless the insurance covers a substantial risk of liability arising out of the ownership or use of property related to the credit transaction.

28-44-304. Cancellation by creditor. A creditor shall not request cancellation of a policy of property or liability insurance except after the debtor’s default or in accordance with a written authorization by the debtor, and in either case the cancellation does not take effect un…

28-44-401. Cancellation of insurance pursuant to a premium finance loan. (1) With respect to a premium finance loan, the debtor may give the lender authority to cancel insurance contracts obtained for the debtor pursuant to the premium finance loan agreement. (2) A lender may not…

28-45-101. Short title. This chapter shall be known and may be cited as Idaho Credit Code — Remedies and Penalties.

28-45-102. Scope. This part applies to actions or other proceedings to enforce rights arising from regulated consumer credit transactions, to extortionate extensions of credit, section 28-45-109, Idaho Code, and to unconscionability, section 28-45-106, Idaho Code.

28-45-103. Restrictions on deficiency judgments. (1) This section applies to a regulated consumer credit sale of goods or services. (2) If the seller repossesses or voluntarily accepts surrender of goods which were the subject of the sale and in which he has a security interest a…

28-45-104. Limitation on garnishment. (1) For the purposes of this part: (a) "Disposable earnings" means that part of the earnings of an individual remaining after the deduction from those earnings of amounts required by law to be withheld; and (b) "Garnishment" means any legal o…

28-45-105. No discharge from employment for garnishment. No employer shall discharge an employee for the reason that a creditor of the employee has subjected or attempted to subject unpaid earnings of the employee to garnishment or like proceedings directed to the employer for th…

28-45-106. Unconscionability. (1) With respect to a regulated consumer credit sale, or regulated consumer loan, if the court as a matter of law finds the agreement or any clause of the agreement to have been unconscionable at the time it was made the court may refuse to enforce t…

28-45-107. Default. An agreement of the parties to a regulated consumer credit transaction with respect to default on the part of the debtor is enforceable only to the extent that: (1) The debtor fails to make a payment as required by agreement; or (2) The prospect of payment, pe…

28-45-108. Creditor’s right to take possession after default. Upon default by a debtor with respect to a regulated consumer credit transaction, unless the debtor voluntarily surrenders possession of the collateral to the creditor, the creditor may take possession of the collatera…

28-45-109. Extortionate extensions of credit. If it is the understanding of the creditor and the debtor at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm…

28-45-110. RESTRICTION ON ACTIONS ARISING FROM A REGULATED CREDIT TRANSACTION PRIMARILY SECURED BY A MORTGAGE OR DEED OF TRUST ON residential REAL PROPERTY. (1) The provisions of this section shall apply to a regulated credit transaction made on or after July 1, 2022, that is sec…

28-45-201. Effect of violations on rights of parties. (1) If a creditor has violated any provision of this act applying to collection of an excess charge or amount or enforcement of rights, subsection (4) of section 28-41-201, Idaho Code, authority to make regulated consumer loan…

28-45-202. Damages or penalties as setoff to obligation. Damages or penalties to which a debtor is entitled pursuant to this part may be set off against the debtor’s obligation, and may be raised as a defense to an action on the obligation without regard to the time limitations p…

28-45-203. Civil liability for violation of disclosure provisions. (1) Except as otherwise provided in this section, a creditor who, in violation of the provisions of the Federal Consumer Credit Protection Act other than the provisions concerning advertising of credit terms, fail…

28-45-301. Limitation on default charges. Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a regulated consumer credit transaction may not provide for any charges as a result of default by the debtor except those authorize…