Colo. Rev. Stat. § 5-3-502

Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session
Section 5-3-502 - Form of insurance premium loan agreement

An agreement pursuant to which a consumer insurance premium loan is made shall contain the names of the insurance agent or broker negotiating each policy or contract and of the insurer issuing each policy or contract, the number and inception date of and premium for each policy or contract, the date on which the term of the loan begins, and a clear and conspicuous notice that each policy or contract may be canceled if payment is not made in accordance with the agreement. If a policy or contract has not been issued by the time the agreement is signed, the agreement may provide that the insurance agent or broker may insert the appropriate information in the agreement and, if he or she does so, shall furnish the information promptly in writing to the insured.

C.R.S. § 5-3-502

L. 2000: Entire article R&RE, p. 1224, § 1, effective July 1.

This section is similar to former § 5-7-102, as it existed prior to 2000.