When life insurance or accident and sickness insurance is required or requested as additional security for any indebtedness, the debtor shall be informed of the option of furnishing the required amount of insurance, or any portion thereof, through existing policies of insurance owned or controlled by him or of procuring and furnishing the required coverage through any insurer authorized to transact such insurance business within this state.
Mo. Rev. Stat. § 385.065
Debtor to be informed of his option to use existing policies of insurance..
Known as the Missouri Vehicle Protection Product Act
The act spans §§ 385–385 (56 sections).
Effective: 28 Aug 1977; (L. 1977 H.B. 610 § 12)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.