§431:10D-309 Premiums paid direct. In the case of weekly premium policies, there may be a provision that upon proper notice to the insurer while premiums on the policy are not in default beyond the grace period, of the intention to pay future premiums directly to the insurer at its home office or any office designated by the insurer for the purpose, the insurer will, at the end of each period of a year from the due date of the first premium so paid, for which period the premiums are so paid continuously without default beyond the grace period, refund a stated percentage of the premiums in an amount which fairly represents the savings in collection expense. [L 1987, c 347, pt of §2]
Section: Previous 431-10d-302 431-10d-303 431-10d-304 431-10d-305 431-10d-306 431-10d-307 431-10d-308 431-10d-309 431-10d-310 431-10d-311 431-10d-312 431-10d-313 431-10d-401 431-10d-402 431-10d-403 NextLast modified: October 27, 2016