56-6-303 - Written agreement to charges Contents of contract. - Tennessee Statutes

56-6-303. Written agreement to charges Contents of contract.

In the event time-price differential charges are made pursuant to this part, the purchaser of insurance must agree to the charges in writing, and the instrument must contain: 

     (1)  The cash price of the insurance policy or bond and the amount of the initial payment, if any;

     (2)  The difference between the two (2), if any;

     (3)  The principal balance owed;

     (4)  The amount of the time-price differential; and

     (5)  The time balance owed by the buyer.

[Acts 1965, ch. 356, § 3; T.C.A., § 56-716.]