Section 5-4-109 - Existing insurance - choice of insurer

If a creditor requires insurance, upon notice to the creditor the consumer shall have the option of providing the required insurance through an existing policy of insurance owned or controlled by the consumer or through a policy to be obtained and paid for by the consumer, but the creditor may for reasonable cause decline the insurance provided by the consumer.L. 2000: Entire article R&RE, p. 1229, § 1, effective July 1.This section is similar to former § 5-4-109, as it existed prior to 2000.