§ 38.2-3736. Noncontributory coverage
If no specific charge is made to the debtor for credit life or credit accident and sickness insurance, the Commission is granted discretion in applying the provisions of this chapter. Each company must comply with § 38.2-3725 and the filing letter must specifically request an exemption from Virginia law. For purposes of this section, it will be considered that the debtor is charged a specific amount for insurance if an identifiable charge for insurance is disclosed in the credit or other instrument furnished the debtor which sets out the financial elements of the credit transactions, or if there is a differential in finance, interest, service or other similar charges made to debtors who are in like circumstances, except for their insured or noninsured status.
(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 16, 2009