(1) Except as provided in subsection (2), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale (Section 37-2-104 ), a consumer lease (Section 37-2-106 ), or a consumer loan (Section 37-3-104 ).(2) The provision on cancellation by a creditor (Section 37-4-304 ) applies to loans the primary purpose of which is the financing of insurance. No other provision of this chapter applies to insurance so financed or to restricted loans.1976 Act No. 686 Sections 30, 31; 1974 (58) 2879; 1962 Code Section 8-800.292.