Michigan Compiled Laws § 500.3416 Time Of Payment Of Claims; Provision Required.

500.3416 Time of payment of claims; provision required.

Sec. 3416.

There shall be a provision as follows:

TIME OF PAYMENT OF CLAIMS: Indemnities payable under this policy for any loss other than loss for which this policy provides any periodic payment will be paid immediately upon receipt of due written proof of such loss. Subject to due written proof of loss, all accrued indemnities for loss for which this policy provides periodic payment will be paid ....................... (insert period for payment which must not be less frequently than monthly) and any balance remaining unpaid upon the termination of liability will be paid immediately upon receipt of due written proof.

History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218

Section: Previous  500.3408  500.3409  500.3410  500.3411  500.3412  500.3413  500.3414  500.3416  500.3418  500.3420  500.3422  500.3424  500.3425  500.3426  500.3428  Next

Last modified: October 10, 2016