Michigan Compiled Laws § 500.4228 Reinstatement; Provision Required.

500.4228 Reinstatement; provision required.

Sec. 4228.

There shall be a provision that the policy may be reinstated at any time within 2 years from date of the premium in default, unless the cash value has been paid or the period of extended term insurance expired, upon evidence of insurability satisfactory to the company and payment of arrears of premiums with interest at a rate not exceeding 6% per annum payable annually.

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

Section: Previous  500.4208  500.4210  500.4212  500.4214  500.4216  500.4220  500.4222  500.4224  500.4228  500.4230  500.4236  500.4238  500.4242  500.4244    Next

Last modified: October 10, 2016