Indiana Code 24-4.5-4-305. Refund of unearned premium for property insurance upon payment of loan
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Terms Used In Indiana Code 24-4.5-4-305
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 305. Upon the payment in full of a consumer credit sale or consumer loan, the creditor or creditor’s assignee shall promptly make an appropriate refund of the unearned premium for any property insurance with respect to which the creditor or the credit account of the consumer is a beneficiary.
As added by P.L.122-1994, SEC.30.