(1) All life or health insurance in connection with loans or other credit transactions shall be subject to ORS 743.371 to 743.380, except:
(a) Insurance in connection with a loan or other credit transaction of more than 10 years’ duration; or
(b) Insurance, the issuance of which is an isolated transaction on the part of the insurer not related to an agreement or a plan for insuring debtors of the creditor.
(2) Notwithstanding subsection (1) of this section, credit life and credit health insurance may be issued for up to 10 years in connection with a loan or other credit transaction of any duration. [Formerly 739.570 and then 743.564]
Section: Previous 743.358 743.360 743.362 743.365 743.368 743.370 743.371 743.372 743.373 743.374 743.375 743.376 743.377 743.378 743.379 NextLast modified: August 7, 2008