§ 1007.2. Scope of act; short title; definitions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 1007.2
§ 1007.2. Scope of act; short title; definitions
(2) All life insurance and all accident and health insurance in connection with loans or other credit transactions shall be subject to provisions of this act, except such insurance in connection with a loan or other credit transaction of more than twenty years duration; and except such insurance in connection with a first real estate mortgage, provided however, that such insurance in connection with a first real estate mortgage on a new or used mobile home or dwelling trailer shall be subject to the provisions of this act regardless of the duration of the underlying loan or other credit transaction; nor shall insurance be subject to the provisions of this act where the issuance of such 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.
(3) “Creditor” means the lender of money or vendor or lessor of goods, services, property rights 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 employe of any of them or any other person in any way associated with any of them.
(8) “Dwelling trailer” means any portable dwelling structure or movable dwelling unit designed, constructed and equipped for human use with a chassis or undercarriage as an integral part thereof, with or without independent motive power, capable of being drawn or driven upon the public highways and streets.
Credits
1961, Sept. 2, P.L. 1232, § 2. Amended 1974, Dec. 10, P.L. 847, No. 284, §§ 1, 2, imd. effective.
40 P.S. § 1007.2, PA ST 40 P.S. § 1007.2
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document |