Terms Used In Vermont Statutes Title 8 Sec. 4102

  • Creditor: means the lender of money or vendor or lessor of goods, services, property, right, or privileges, for which payment is arranged through a credit transaction or any successor to the right, title, or interest of any such lender, vendor, or lessor, and an affiliate, associate, or subsidiary of any of them or any director, officer, or employee of any of them or any other person in any way associated with any of them. See
  • insurance: means an agreement to indemnify or otherwise assume an obligation, provide services or any other thing of value on the happening of a particular event or contingency, or to provide indemnity for loss with respect to a specified subject by specified circumstances in return for a consideration. See
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See

§ 4102. Scope

All life insurance and all accident and health insurance sold in connection with loans or other credit transactions shall be subject to the provisions of this chapter, except such insurance sold in connection with a real estate first mortgage loan, or where the issuance of that insurance is an isolated transaction on the part of the insurer not related to an agreement or a plan for insuring debtors of the creditor. (Added 1959, No. 221, § 2(A); amended 1967, No. 58, § 1.)