§ 38.2-3733. Portion of premium may be allowed to creditor; insurance may be provided and serviced at creditor'...
A. A portion of the premium for credit life insurance or credit accident and sickness insurance may be allowed by the insurer to a creditor for providing and servicing such insurance. Such portion of the premium so allowed shall not be deemed as a rebate of premium or as interest charges or consideration or an amount in excess of permitted charges in connection with the loan or other credit transaction.
B. All of the acts necessary to provide and service credit life insurance and credit accident and sickness insurance may be performed within the same place of business in which is transacted the business giving rise to the loan or other credit transaction.
(1960, c. 67, § 38.1-482.9; 1982, c. 223, § 38.2-3712; 1986, c. 562; 1992, c. 586.)
Sections: Previous 38.2-3724 38.2-3725 38.2-3726 38.2-3727 38.2-3728 38.2-3729 38.2-3730 38.2-3731 38.2-3732 38.2-3733 38.2-3734 38.2-3735 38.2-3736 38.2-3737 38.2-3738 NextLast modified: April 3, 2009