5(7) of this chapter) that acts as an insurance producer for the sale of a life insurance policy or an annuity contract issued by a life insurance company (as defined in IC 27-1-2-3):(1) is subject to the requirements of IC 27; and(2) must comply with the disclosure requirements of IC 27-1-38.(b) A credit union or credit union service organization may not condition:(1) an extension of credit;(2) a lease or sale of real or personal property;(3) the performance of a service; or(4) the amount charged for:(A) extending credit;(B) leasing or selling real or personal property; or(C) performing services;upon a person's purchase of a life insurance policy or an annuity contract from the credit union or related credit union service organization.(c) This section does not prohibit a credit union or a credit union service organization from requiring that a person, as a condition to a transaction, obtain a life insurance policy from an insurance company acceptable to the credit union or credit union service organization.As added by P.L.188-1997, SEC.11. person, as a condition to a transaction, obtain a life insurance policy from an insurance company acceptable to the credit union or credit union service organization.As added by P.L.188-1997, SEC.11. Amended by P.L.63-2001, SEC.16, P.L.81-2001, SEC.5 and P.L.134-2001, SEC.18; P.L.130-2002, SEC.8; P.L.178-2003, SEC.93.
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