§ 33-1-218

33-1-218. Credit insurances -- definitions. As used in this code, the following definitions apply: (1) 'Credit disability insurance' means the same as defined in 33-21-103. (2) 'Credit life insurance' means the same as defined in 33-21-103. (3) 'Credit property insurance' means any policy, endorsement, rider, cover note, memorandum, certificate, or other instrument or evidence of insurance covering perils to goods purchased through a credit transaction or pledged as collateral for a credit transaction and that concerns a creditor's interest in the purchased goods or pledged collateral either in whole or in part. Credit property insurance is a type of property insurance as provided for in 33-1-210. (4) 'Credit unemployment insurance' means insurance on a debtor to provide indemnity for payments or debt becoming due on a specific loan or other credit transaction while the debtor is involuntarily unemployed as defined in the policy. Credit unemployment insurance is a type of involuntary unemployment insurance as provided for in 33-1-216. (5) 'Debtor' means the same as defined in 33-21-103. History: En. Sec. 9, Ch. 106, L. 2001.