(a) If insurance for which a charge is included in a credit transaction is canceled, adjusted, or terminated, the creditor shall:
(1) credit to the final maturing installments of the credit transaction the amount of the refund received by the creditor for unearned insurance premiums; and
(2) if the amount to be credited under Subdivision (1) is more than the unpaid balance of the credit transaction, refund to the consumer the difference between those amounts.
(b) A cash refund is not required under this section if the amount of the refund is less than $1.