§ 19-14.6-1 - Form of agreement.
SECTION 19-14.6-1
§ 19-14.6-1 Form of agreement. – (a) Every agreement shall:
(1) Be dated and signed by, or on behalf of, the insured, andthe printed portion thereof shall be in at least eight (8) point type;
(2) Contain the names and place of business of the insuranceproducer negotiating the insurance contract or contracts thereto relating, thename and residence, or place of business, of the insured, as specified by theinsured, the name and place of business of the company to which payments underthe agreement are to be made, a brief description of the insurance contract orcontracts, and the amount of the premium or premiums therefore; and
(3) Set forth following items where they are applicable:
(i) The total amount of the premium or premiums;
(ii) The amount of the down payment;
(iii) The principal balance, the difference between (i) and(ii);
(iv) The amount of interest to be charged;
(v) The balance payable by the insured, sum of items (iii)and (iv); and
(vi) The number of installments required, the amount of eachinstallment expressed in dollars, and the due date or period thereof.
(b) The items set forth in subdivision (a)(3) need not bestated in the sequence in which they appear in subdivision (a)(3), andadditional items may be included to explain computations made in determiningthe amount to be paid by the insured.