Section 26-C2511. REQUIREMENT FOR PROPERTY INSURANCE PROHIBITED

Latest version.

2511.1Unless otherwise required by law, no seller, as a condition to the extension of credit, shall require a buyer to obtain insurance against loss of or damage to property which is the subject of a sale, or against liability arising out of the ownership or use of the property.

2511.2The provisions of § 2511.1 shall not apply to transactions where the sales price of the property is one thousand dollars ($ 1,000) or more.

2511.3If the sales price of property sold is one thousand dollars ($ 1,000) or more, the amount of loss or damage insurance a seller may require a buyer to obtain, as a condition to the extension of credit to the buyer, shall not exceed the sales price of the property insured.

source

Regulation No. 71-18, 17 DCR 815 (June 28, 1971); 5P DCRR § 3.106.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');