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Code · Utah · Title 61 — Securities Division - Real Estate Division · Chapter 2D

61-2d-107. Prohibition on single premium credit life insurance.

82 words·~1 min read·/ut/title-61/chapter-2d/61-2d-107

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61-2d-107. Prohibition on single premium credit life insurance.
A borrower credit transaction involving a high-cost mortgage may not include:
(1)the offer or sale of any insurance policy, on a single premium or single fee basis, that insures, guarantees, or indemnifies the repayment of the outstanding balance of the loan against:
(a)death;
(b)illness;
(c)accident;
(d)disability; or
(e)unemployment of the borrower; or
(2)debt cancellation or a debt suspension agreement.
Enacted by Chapter 252 , 2004 General Session
★   the supreme law of the land   ★
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