Credit life insurance and credit health insurance shall be issued only in the following forms: A. individual policies of life insurance issued to debtors on the term plan; B. individual policies of health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance; C. group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan; and D. group policies of health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage. History: Laws 1984, ch. 127, § 475.
New Mexico Legal Code