All applications for insurance obtained in forming a mutual or reciprocal insurer must provide that
(1) issuance of the policy is contingent upon completion of organization of the insurer and issuance to it of a certificate of authority;
(2) the prepaid premium or deposit will be refunded in full to the applicant if the organization is not completed and certificate of authority issued before the solicitation permit's date of expiration;
(3) the agreement for insurance is not effective until a policy has been issued under it.
Section: Previous 21.69.110 21.69.120 21.69.130 21.69.140 21.69.150 21.69.160 21.69.170 21.69.180 21.69.190 21.69.200 21.69.210 21.69.220 21.69.230 21.69.240 21.69.250 NextLast modified: November 15, 2016