The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 8 V.S.A. § 4106)
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§ 4106. Term
The term of any credit life insurance or credit accident and health insurance shall,
subject to acceptance by the insurer, commence on the date when the debtor becomes
obligated to the creditor, except that, where a group policy provides coverage with
respect to existing obligations, the insurance on a debtor with respect to such indebtedness
shall commence on the effective date of the policy. The term of such insurance shall
not extend more than 15 days beyond the scheduled maturity date of the indebtedness
except when extended without additional cost to the debtor. If the indebtedness is
discharged due to renewal or refinancing prior to the scheduled maturity date, the
insurance in force shall be terminated before any new insurance may be issued in connection
with the renewed or refinanced indebtedness. In all cases of termination prior to
scheduled maturity, a refund shall be paid or credited as provided in section 4109 of this title. (Added 1959, No. 221, § 5.)