Louisiana Administrative Code
Title 46 - PROFESSIONAL AND OCCUPATIONAL STANDARDS
Part V - Automotive Industry
Subpart 3 - Motor Vehicle Sales Finance
Chapter 77 - GAP Coverage
Section V-7707 - Debt Waiver or Debt Forgiveness Agreement
Universal Citation: LA Admin Code V-7707
Current through Register Vol. 50, No. 9, September 20, 2024
A. Debt waiver or debt forgiveness is an agreement whereby a extender of credit agrees with the consumer to waive any unpaid balance on a consumer loan or consumer credit sale due to a physical damage total loss or constructive loss or unrecovered theft to the covered collateral secured by an eligible security device.
AUTHORITY NOTE: Promulgated in accordance with R.S. 6:969.40(D).
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