Definitions - consumer credit insurance - Credit Insurance Act

5-4-103. Definitions - consumer credit insurance - Credit Insurance Act. As used in this code, unless the context otherwise requires: (1) Consumer credit insurance means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided but does not include: (a) Insurance, as to which a finance charge is imposed and provided in relation to a credit transaction in which a payment is scheduled more than ten years after the extension of credit; (b) Insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring consumers of the creditor; or (c) Insurance indemnifying the creditor against loss due to the consumer's default. (2) Credit Insurance Act means the Credit Insurance Act, article 10 of title 10, C.R.S. Source: L. 2000: Entire article R&RE, p. 1225, � 1, effective July 1. Editor's note: This section is similar to former � 5-4-103, as it existed prior to 2000.