§ 58-57-65. Existing insurance; choice of insurer. - North Carolina Statutes

§58‑57‑65.  Existing insurance; choice of insurer.

Credit life insurance andcredit accident and health insurance may not be required of any borrower by anycreditor.  When credit property insurance is required for any indebtedness, thedebtor shall be notified in writing of the option of furnishing the requiredamount of insurance through existing policies owned or controlled by him or ofprocuring and furnishing the required coverage through any insurer authorizedto transact an insurance business within this State. (1975,c. 660, s. 1; 1987, c. 826, s. 8.)