Sec. 102. (1) Except as provided in subsection (2), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale ( IC 24-4.5-1-301.5 (8)), a consumer lease ( IC 24-4.5-2-106 ), or a consumer loan ( IC 24-4.5-1-301.5 (9)). (2) The provision on cancellation by a creditor ( IC 24-4.5-4-304 ) applies to loans the primary purpose of which is the financing of insurance. No other provision of this chapter applies to insurance so financed. (3) This chapter supplements and does not repeal IC 27-8-4 (the credit insurance act). The provisions of this article concerning administrative controls, liabilities, and penalties do not apply to persons acting as insurers, and the similar provisions of IC 27-8-4 do not apply to creditors and debtors. Formerly: Acts 1971, P.L.366, SEC.5. As amended by P.L.153-1986, SEC.1; P.L.35-2010, SEC.61.
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