40-2611. Delinquency charge.

40-2611

Chapter 40.--INSURANCE Article 26.--INSURANCE PREMIUM FINANCING

      40-2611.   Delinquency charge.A premium finance agreement may provide for the payment by the insuredof a delinquency charge of $5 plus an amount not to exceed 2% of the delinquentinstallment on any installment which is in default for a period of five days ormore.

      History:   L. 1968, ch. 287, § 11;L. 1991, ch. 136, § 4; July 1.