210 Neb. Admin. Code, ch. 22, § 003
Current through September 17, 2024
When credit life insurance or credit accident and health insurance is required by a creditor, the debtor shall have the option, upon notice to the creditor, of furnishing existing policies of insurance, or procuring and furnishing new policies of insurance, owned or controlled by him and issued by any insurer authorized to transact business in this state for an amount no less than the indebtedness, and for the term and type of insurance coverage required. Insurers writing credit life insurance and credit accident and health insurance shall be responsible for establishment of procedures whereby debtors are furnished a prominent written notice informing them of said option.
210 Neb. Admin. Code, ch. 22, § 003