Arizona Revised Statutes § 20-1203 Grace Period

20-1203. Grace period

There shall be a provision that a grace period of thirty days, or, at the option of the insurer, of one month of not less than thirty days, shall be allowed within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full force. If a claim arises under the policy during the period of grace before the overdue premium is paid, the amount of the premium may be deducted from the policy proceeds.

Section: Previous  20-1133  20-1134  20-1135  20-1136  20-1137  20-1201  20-1202  20-1203  20-1204  20-1205  20-1206  20-1207  20-1208  20-1209  20-1209.01  Next

Last modified: October 13, 2016