16a-4-109.   (UCCC) Existing insurance; choice of insurer; notice of option.If a creditor requires insurance, theconsumer shall have the option of providing the required insurance throughan existing policy of insurance owned or controlled by the consumer, orthrough a policy to be obtained and paid for by the consumer, but thecreditor may for reasonable cause decline the insurance provided by theconsumer.The creditor shall provide the consumer with a written notice on the loanagreement or other instrument fully informing the consumer of the optionauthorized by this section.

      History:   L. 1973, ch. 85, § 69;L. 1988, ch. 153, § 2; July 1.