33-1-218. Credit insurances -- definitions.
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/mt/title-33/chapter-1/part-2/33-1-218·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
33-1-218 . Credit insurances -- definitions. As used in this code, the following definitions apply:
(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 .