424.201 Definition "consumer credit insurance". - Wisconsin Statutes

424.201

SUBCHAPTER II
CONSUMER CREDIT INSURANCE
424.201 Definition "consumer credit insurance". "Consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:

424.201(1)

(1) Insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring customers of the creditor;

424.201(2)

(2) Insurance indemnifying the creditor against loss due to the customer's default; or

424.201(3)

(3) With respect to a motor vehicle consumer lease, a lessor's waiver of its contractual right to hold the lessee liable for any or all of the gap amount, as defined in s. 429.104 (12), if the waiver is granted without a separate charge.

424.201 - ANNOT.

History: 1971 c. 239; 1973 c. 3; 1985 a. 256; 1995 a. 329.