70C-6-107. Existing insurance -- Choice of insurer.
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70C-6-107. Existing insurance -- Choice of insurer.
If a creditor requires insurance, upon notice to the creditor the debtor may provide the required insurance through an existing policy of insurance owned or controlled by the debtor, or through a policy to be obtained and paid for by the debtor, but the creditor may for reasonable cause decline the insurance provided by the debtor.
Enacted by Chapter 159 , 1985 General Session