West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-06 - Credit Life Insurance, Credit Accident And Sickness Insurance, And Credit Unemployment Insurance
Section 114-6-2 - Definitions
Current through Register Vol. XLI, No. 38, September 20, 2024
2.1. "Commissioner" means the West Virginia Insurance Commissioner.
2.2. "Credit Accident and Sickness Insurance" means insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy.
2.3. "Credit Life Insurance" means insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction.
2.4. "Credit unemployment insurance" means insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is unemployed as defined in the policy.
2.5. "Creditor" means the lender of money or vendor or lesser goods, services, or property, rights or privileges, for which payment is arranged through a credit transaction, or any successor to the right, title or interest of any such lender, vendor, or lessor, and an affiliate, associate or subsidiary of them or any director, officer, or employee of any of them or any other person in any way associated with any of them.
2.6. "Debtor" means a borrower of money or purchaser or lessee of goods, services, property, rights or privileges for which payment is arranged through a credit transaction.
2.7. "Indebtedness" means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction.
2.8. "Indebtedness" means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction.
