Credit life insurance, credit accident and health insurance; forms.

Sec. 4. Credit life insurance and credit accident and health insurance shall be issued only in the following forms: Individual policies of life insurance issued to debtors on the term plan; Individual policies of accident and health insurance issued to debtors on a term plan or disability provisions in individual policies of credit life insurance; Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan; Group policies of accident and health insurance issued to creditors on a term plan insuring debtors or disability provisions in group life policies to provide such coverage. History: 1958, Act 173, Eff. Sept. 13, 1958