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§ 4-103. Definition: “Consumer credit insurance”

Oklahoma Statutes AnnotatedTitle 14A. Consumer Credit Code

Oklahoma Statutes Annotated
Title 14a. Consumer Credit Code (Refs & Annos)
Article 4. Insurance
Part 1. Insurance in General
14A Okl.St.Ann. § 4-103
§ 4-103. Definition: “Consumer credit insurance”
Currentness
As used in the Uniform Consumer Credit Code,1 “consumer credit insurance” means insurance, other than insurance on property as provided for in Section 4-301 of this title, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:
(a) insurance provided in relation to a credit transaction in which a payment is scheduled more than fifteen (15) years after the extension of credit; or
(b) insurance issued as an isolated transaction of the insurer not related to an agreement or plan for insuring debtors of the creditor; or
(c) insurance indemnifying the creditor against loss due to the debtor's default.

Credits

Laws 1969, c. 352, § 4-103, eff. July 1, 1969; Laws 1984, c. 41, § 1, eff. Nov. 1, 1984.

Footnotes

1
Title 14A, § 1-101 et seq.
14A Okl. St. Ann. § 4-103, OK ST T. 14A § 4-103
Current with emergency effective legislation through Chapter 449 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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