Section 10-10-117 - Insurance expense not computed as cost of loan

In connection with insurance which is permitted under this article, the premium and any gain or advantage to the creditor, or to any employee, affiliate, or associate of the creditor, from such insurance or its sale shall not be deemed to be an additional or further interest, discount, or charge, and the creditor may receive commissions on the premium paid for such insurance if the creditor or an employee of the creditor is a duly licensed insurance broker or agent under the insurance laws of the state of Colorado.L. 69: p. 541, § 17. C.R.S. 1963: § 72-28-17. Agents and brokers referenced in this section are referred to as insurance producers, pursuant to part 4 of article 2 of this title 10. (See chapter 257, Session Laws of Colorado 1993.)