Montana Statutes
§ 33-20-302 — Grace Period
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 20 LIFE INSURANCE·Part 3 Annuity Contract Provisions
33-20-302 . Grace period. In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that there shall be a period of grace of 1 month, but not less than 30 days, within which any stipulated payment to the insurer falling due after the first may be made, subject at the option of the insurer to an interest charge thereon at a rate to be specified in the contract but not exceeding 6% per annum for the number of days of grace elapsing before such payment, during which period of grace the contract shall continue in full force; but in case a claim arises under the contract on account of death prior to expiration of the period of grace before the overdue payment to the insurer or the deferred payments of the current contract yea
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Montana § 33-20-302 (Grace Period) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 313, Ch. 286, L. 1959; R.C.M. 1947, 40-3819.
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Repealed§ 33-20-101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