33-1-218. Credit insurances — definitions. As used in this code, the following definitions apply:

Terms Used In Montana Code 33-1-218

  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Property: means real and personal property. See Montana Code 1-1-205

(1)”Credit disability insurance” means the same as defined in 33-21-103.

(2)”Credit life insurance” means the same as defined in 33-21-103.

(3)”Credit property insurance” means any policy, endorsement, rider, cover note, memorandum, certificate, or other instrument or evidence of insurance covering perils to goods purchased through a credit transaction or pledged as collateral for a credit transaction and that concerns a creditor’s interest in the purchased goods or pledged collateral either in whole or in part. Credit property insurance is a type of property insurance as provided for in 33-1-210.

(4)”Credit unemployment insurance” means insurance on a debtor to provide indemnity for payments or debt becoming due on a specific loan or other credit transaction while the debtor is involuntarily unemployed as defined in the policy. Credit unemployment insurance is a type of involuntary unemployment insurance as provided for in 33-1-216.

(5)”Debtor” means the same as defined in 33-21-103.