Title 27, Title 27 Title 27

Any party to the proceeding affected by any order of the commissioner shall be entitled to judicial review pursuant to chapter 35 of title 42.

The commissioner, in his or her discretion, may revoke or suspend the license or certificate of authority or proscribe whatever additional penalty is warranted pursuant to § 42-14-16 for any violation of this chapter. The order for penalties shall provide for notice and hearing, …

If any provision of this chapter, or the application of the provision to any person or circumstances, shall be held invalid, the remainder of the chapter, and the application of the provision to any person or circumstances other than those as to which it is held invalid, shall no…

Except as otherwise prohibited by law, duties imposed upon an insurer within this chapter may be carried out by a creditor if the creditor is acting as a common law or statutory agent on behalf of the insurer.

(a) Citation and scope. (1) This chapter may be cited as “Consumer Credit Insurance Act.” (2) All consumer credit insurance sold in connection with loans or other credit transactions for personal, family, or household purposes shall be subject to the provisions of this chapter ex…

The types of consumer credit insurance defined in § 27-30-2 may each be written separately or in combination with other types of consumer credit insurance on an individual policy or group policy basis. The commissioner may by regulation prohibit or limit any combination.

(a) Credit life insurance. (1) The amount of credit life insurance shall at no time exceed the greater of the actual net debt or the scheduled net debt. (2) If the coverage is written on the actual net debt, then the amount payable at the time of loss may not be less than the act…

(a) Effective date of coverage. (1) For consumer credit insurance made available to and elected by the debtor before or contemporaneous with a credit transaction to which the insurance relates, the term of insurance shall, subject to acceptance by the insurer, commence on the dat…

(a) Pre-purchase disclosure. Before the debtor elects to purchase consumer credit insurance in connection with a credit transaction, the following shall be disclosed to the debtor in writing: (1) That the purchase of consumer credit insurance is optional and not a condition of ob…

(a) All policies, certificates of insurance, notices of proposed insurance, disclosure notices, applications for insurance, endorsements, and riders delivered or issued for delivery in this state and the schedules of premium rates pertaining thereto shall be filed with the commis…

(a) An insurer may revise its schedules of premium rates from time to time, and shall file the revised schedules with the commissioner. No insurer shall issue any consumer credit insurance policy for which the premium rate exceeds that determined by the schedules of the insurer a…

All policies of consumer credit insurance shall be delivered or issued for delivery in this state only by an insurer authorized to engage in the business of insurance thereto, and shall be issued only through holders of licenses or authorizations issued by the commissioner.