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Idaho Statutes Title 28. Commercial Transactions § 28-44-110. Charge for insurance in connection with a deferral, refinancing, or consolidation--Duplicate charges

Current as of January 01, 2024 | Updated by FindLaw Staff

(1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral, section 28-42-302, Idaho Code, a refinancing, section 28-42-303, Idaho Code, or a consolidation, section 28-42-304, Idaho Code, unless:

(a) The debtor agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made;

(b) The debtor is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which he would have been entitled had there been no deferral, refinancing, or consolidation;

(c) The debtor receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated, section 28-44-108, Idaho Code; and

(d) The charge does not exceed the amount permitted by this chapter, section 28-44-107, Idaho Code.

(2) A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.

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Cite this article: FindLaw.com - Idaho Statutes Title 28. Commercial Transactions § 28-44-110. Charge for insurance in connection with a deferral, refinancing, or consolidation--Duplicate charges - last updated January 01, 2024 | https://codes.findlaw.com/id/title-28-commercial-transactions/id-st-sect-28-44-110/

Read this complete Idaho Statutes Title 28. Commercial Transactions § 28-44-110. Charge for insurance in connection with a deferral, refinancing, or consolidation--Duplicate charges on Westlaw. Westlaw subscription required.

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