§4-106. Unconscionability
1.
In applying the provisions of this Act on unconscionability, sections 5‑108 and 6‑111, to a separate charge for insurance, consideration shall be given, among other factors, to:
A.
Potential benefits to the consumer including the satisfaction of his obligations;
[PL 1973, c. 762, §1 (NEW).]
B.
The creditor's need for the protection provided by the insurance; and
[PL 1973, c. 762, §1 (NEW).]
C.
The relation between the amount and terms of credit granted and the insurance benefits provided.
[PL 1973, c. 762, §1 (NEW).]
[PL 1973, c. 762, §1 (NEW).]
2.
If consumer credit insurance otherwise complies with Parts 1, 2 and 3 of this Article and other applicable law, neither the amount nor the term of the insurance nor the amount of a charge therefor is in and of itself unconscionable in the absence of other practices and circumstances.
[PL 1997, c. 315, §3 (AMD).]
SECTION HISTORY
PL 1973, c. 762, §1 (NEW). PL 1997, c. 315, §3 (AMD).