An agreement pursuant to which an insurance premium loan is made shall contain the namesof the insurance producer negotiatingeach policy or contract and of the insurerissuing each policy or contract, the number and inception date of, and premium for, each policy or contract, the date on which the term of the loan begins, and a clear and conspicuous notice that each policy or contract may be canceled if payment isnot made in accordance with the agreement. If a policy or contract has not been issued when the agreement issigned, the agreement may provide that the insurance producer may insert the appropriate information in the agreement and, ifthey do so, shall furnish the information promptly in writing to the insured.
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.