La. Admin. Code tit. 46 § V-7707

Current through Register Vol. 50, No. 11, November 20, 2024

Section V-7707 - Debt Waiver or Debt Forgiveness Agreement

A. Debt waiver or debt forgiveness is an agreement whereby a extender of credit agrees with the consumer to waive any unpaid balance on a consumer loan or consumer credit sale due to a physical damage total loss or constructive loss or unrecovered theft to the covered collateral secured by an eligible security device.

La. Admin. Code tit. 46, § V-7707

Promulgated by the Office of the Governor, Motor Vehicle Commission, LR 31:925 (April 2005).

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:969.40(D).