16a-4-302. (UCCC) Insurance on creditor's interest only. - Kansas Statutes

16a-4-302

Chapter 16a.--CONSUMER CREDIT CODE Part 3 PROPERTY AND LIABILITY INSURANCE Article 4.--INSURANCE

      16a-4-302.   (UCCC) Insurance on creditor's interest only. If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the consumer is on the consumer only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.

      History:   L. 1973, ch. 85, § 77; Jan. 1, 1974.