20-1602. Scope and repeal
A. All consumer credit insurance issued, sold or made effective in connection with
a loan or other credit transaction for personal, family or household purposes is subject
to this article and to all other provisions of this title not inconsistent with this
article. Any provision of other law, general or special, that is inconsistent with this
article is repealed to the extent of the inconsistency. In addition, all consumer credit
insurance issued or made effective relative to consumer lender loans under title 6,
chapter 5 is subject to this article.
B. The following consumer credit insurance transactions are not subject to this
article:
1. Insurance on credit transactions of more than fifteen years duration.
2. Insurance written in connection with a credit transaction that is secured by a
first mortgage or deed of trust and made to finance the purchase of real property or the
construction of a dwelling or to refinance a prior credit transaction made for such a
purpose.
3. Insurance sold as an isolated transaction on the part of the insurer and not
related to an agreement or a plan for insuring debtors of the creditor.
4. Insurance for which no identifiable charge is made to the debtor.
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