Montana Statutes
§ 33-20-104 — Grace Period
33-20-104 . Grace period. There shall be a provision that a grace period of 30 days or, at the option of the insurer, of 1 month of not less than 30 days or of 4 weeks in the case of industrial life insurance policies, the premiums for which are payable more frequently than monthly, 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; but if a claim arises under the policy during such period of grace, the amount of any premium due or overdue may be deducted from the policy proceeds.
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Montana § 33-20-104 (Grace Period) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 298, Ch. 286, L. 1959; R.C.M. 1947, 40-3804.
Nearby Sections
15
§ 33-20-1002
Employee Life Insurance Defined§ 33-20-1003
Repealed§ 33-20-101
Scope§ 33-20-102
Industrial Life Insurance Defined§ 33-20-103
Standard Provisions Required -- Exceptions§ 33-20-104
Grace Period§ 33-20-105
Incontestability§ 33-20-106
Entire Contract§ 33-20-107
Misstatement Of Age§ 33-20-108
Dividends§ 33-20-109
Renumbered 33-20-131§ 33-20-110
Table Of Values§ 33-20-1101
Employee Groups§ 33-20-1102
Labor Union Groups