RS 22:934 Policies to contain non-forfeiture benefits
§934. Policies to contain non-forfeiture benefits
Every contract or policy of life or endowment insurance (other than a term policy for twenty years or less and policies of one thousand two hundred fifty dollars or less issued as industrial policies under the provisions of R.S. 22:146) issued on the life of a resident of this state or delivered within this state by any insurer, after January 1, 1937, unless the company elects to take advantage of the option provided in R.S. 22:936(H), shall contain a stipulation that after three full annual premiums have been paid thereon it shall not lapse or become void or be forfeited for non-payment of any premium thereafter, or of any note therefor, or of any loan on such policy, or of any interest on such note or loan, except as provided in R.S. 22:935.
Acts 1958, No. 125. Amended by Acts 1958, No. 90, §1, eff. Jan. 1, 1959 at 12:00 Noon; Redesignated from R.S. 22:166 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.