Maine Revised Statutes Title 24-A Sec. 2854 – Forms available
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Consumer credit insurance may be issued only in the following forms: [PL 2001, c. 138, §8 (AMD).]
1. Individual life. Individual policies of life insurance issued to debtors on the term plan;
[PL 1969, c. 132, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 2854
- health insurance: means insurance of human beings against bodily injury, disablement or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto, including provision for the mental and emotional welfare of human beings by defraying the costs of legal services only to the extent provided for in chapter 38. See Maine Revised Statutes Title 24-A Sec. 704
2. Individual accident and health. Individual policies of health insurance issued to debtors on a term plan, or disability benefit provisions in individual policies of credit life insurance;
[PL 1969, c. 132, §1 (NEW).]
3. Group life. Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;
[PL 1969, c. 132, §1 (NEW).]
4. Group accident and health. Group policies of health insurance issued to creditors on a term plan insuring debtors, or disability benefit provisions in group credit life insurance policies to provide such coverage;
[PL 1969, c. 132, §1 (NEW).]
4-A. Individual credit property insurance. Individual policies of property insurance on property that is purchased on credit or pledged as collateral on a loan when the insurance is purchased by or issued to the debtor in connection with that loan or credit transaction;
[PL 2001, c. 138, §8 (NEW).]
4-B. Group credit property insurance. Group policies of property insurance on property that is purchased on credit or pledged as collateral on a loan when the insurance is purchased by or issued to the debtor in connection with that loan or credit transaction;
[PL 2001, c. 138, §8 (NEW).]
4-C. Individual credit involuntary unemployment insurance. Individual involuntary unemployment policies insuring a debtor pursuant to or in connection with a specific loan or other credit transaction but not including disability insurance policies;
[PL 2001, c. 138, §8 (NEW).]
4-D. Group credit involuntary unemployment insurance. Group involuntary unemployment policies insuring a debtor pursuant to or in connection with a specific loan or other credit transaction but not including disability insurance policies; or
[PL 2001, c. 138, §8 (NEW).]
[PL 1969, c. 132, §1 (NEW).]
The superintendent may by rules adopted pursuant to section 2865 or chapter 40?A designate other permissible types of consumer credit insurance. [PL 2001, c. 138, §8 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 2001, c. 138, §8 (AMD).