§ 58-57-10. Forms of insurance which are authorized.
§58‑57‑10. Forms of insurance which are authorized.
Credit life insurance andcredit accident and health insurance shall be issued only in the followingforms:
(1) Individual policiesof life insurance issued to debtors on the term plan;
(2) Individual policiesof accident and health insurance issued to debtors on a term plan or disabilitybenefit provisions in individual policies of credit life insurance;
(3) Group policies oflife insurance issued to creditors providing insurance upon the lives of debtorson the term plan;
(4) Group policies ofaccident and health insurance issued to creditors on a term plan insuringdebtors or disability benefit provisions in group credit life insurancepolicies to provide such coverage. (1975, c. 660, s. 1.)