Section 408-A:3 Forms of Credit Life Insurance and Credit Accident and Health Insurance.
Credit life insurance and credit accident and health insurance shall be issued only in the following forms:
I. Individual policies of life insurance issued to debtors on the term plan;
II. Individual policies of accident and health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance;
III. Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;
IV. Group policies of accident and health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage.
Source. 1959, 66:1, eff. June 22, 1959.