State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-189

§53‑189.  Insurance.

(a)        Credit life, creditaccident and health, credit unemployment, and credit property insurance may bewritten in accordance with the provisions of Article 57 of Chapter 58 of theGeneral Statutes.

(b)        The premium or costof credit life, credit accident and health, credit unemployment, or creditproperty insurance, when written by or through any lender or other creditor,its affiliate, associate or subsidiary shall not be deemed as interest orcharges or consideration or an amount in excess of permitted charges inconnection with the loan or credit transaction and any gain or advantage to anylender or other creditor, its affiliate, associate or subsidiary, arising outof the premium or commission or dividend from the sale or provision of suchinsurance shall not be deemed a violation of any other law, general or special,civil or criminal, of this State, or of any rule, regulation or order issued byany regulatory authority of this State. (1961, c. 1053, s. 1; 1969,c. 1303, s. 25; 1975, c. 660, s. 2; 1981, c. 759, s. 10; c. 876; 1987, c. 826,s. 10; 1993, c. 226, s. 14.)