Utah Code § 61-2d-107

Current through the 2024 Fourth Special Session

Section 61-2d-107 - Prohibition on single premium credit life insurance

A borrower credit transaction involving a high-cost mortgage may not include:

(1) the offer or sale of any insurance policy, on a single premium or single fee basis, that insures, guarantees, or indemnifies the repayment of the outstanding balance of the loan against:

(a) death;

(b) illness;

(c) accident;

(d) disability; or

(e) unemployment of the borrower; or

(2) debt cancellation or a debt suspension agreement.

Utah Code § 61-2d-107

Enacted by Chapter 252, 2004 General Session .