Section 21.36.160. Right of debtor or borrower to select insurance producer and insurer.

Latest version.

If property insurance is required in connection with a debt or loan, the debtor or borrower has the reasonable right to select the insurance producer and insurer through whom the insurance is to be placed if (1) the insurance is provided for the protection of the creditor's or lender's interest in the property at the commencement of the risk; or (2) in the case of renewal of insurance, the renewal policy is delivered to the creditor or lender no later than 30 days before the renewal date.

Authorities

6.20.287

Notes

References

AS 6.20.287 .287">Sec. 06.20.287. Insurance on open-end loans.

History

(Sec. 1 ch 120 SLA 1966; am Sec. 56 ch 62 SLA 1995)

                    
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