Section 23-101-101 - Purpose

The purposes of this chapter are to:(1) Promote the public welfare by regulating creditor-placed insurance;(2) Create a legal framework within which creditor-placed insurance may be written in this state; and(3) Minimize unfair competitive practices in the sale of creditor-placed insurance.Acts 1997, No. 930, § 1; 2001, No. 580, § 25.