(a) No insurer issuing or renewing policies pursuant to this chapter or conversion policies issued pursuant to ยง 23-86-115 shall unilaterally change the premium payment mode for the policyholder or payor unless the insurer provides written notice of the effective date of the premium payment mode change to the policyholder or payor at least sixty (60) days prior to the change.
(b) This section shall not apply when an insurer unilaterally changes the premium payment mode solely due to a policyholder's or payor's nonpayment of premium.
Section: Previous 23-85-124 23-85-125 23-85-126 23-85-127 23-85-128 23-85-129 23-85-130 23-85-131 23-85-132 23-85-133 23-85-134 23-85-136 23-85-137 23-85-139Last modified: November 15, 2016