TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 44

INSURANCE

PART 1.

INSURANCE IN GENERAL

28-44-110.  Charge for insurance in connection with a deferral, refinancing, or consolidation — Duplicate charges. (1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral, section 28-42-302, Idaho Code, a refinancing, section 28-42-303, Idaho Code, or a consolidation, section 28-42-304, Idaho Code, unless:

(a)  The debtor agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made;

(b)  The debtor is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which he would have been entitled had there been no deferral, refinancing, or consolidation;

(c)  The debtor receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated, section 28-44-108, Idaho Code; and

(d)  The charge does not exceed the amount permitted by this chapter, section 28-44-107, Idaho Code.

(2)  A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.

History:

[28-44-110, added 1983, ch. 119, sec. 3, p. 290.]