9-A M.R.S. §4-103: Definition: "consumer credit insurance," "Credit Insurance Act"

In this Act:

1. "Consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:

A. Insurance provided in relation to a credit transaction in which a payment is scheduled more than 15 years after the extension of credit;

B. Insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring consumers of the creditor; or

C. Insurance indemnifying the creditor against loss due to the consumer's default.

2. "Credit Insurance Act" means Title 24‑A, chapter 37.