§ 17-103. Statement to insured debtors

Latest version.

   An insurer that issues a policy to a creditor to insure debtors of the creditor shall provide to the creditor for delivery to each debtor insured under the policy a form that states that:

   (1) the life of the debtor is insured under the policy; and

   (2) a death benefit paid under the policy because of the debtor's death shall be applied to reduce or extinguish the indebtedness.

HISTORY: An. Code 1957, art. 48A, § 436A; 1996, ch. 11.

                    
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