Section 500.4454 - Readjustment of premium rate; optional provisions.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.4454 Readjustment of premium rate; optional provisions.
Sec. 4454.
Any group life insurance policy may provide for a readjustment of the rate based on experience at the end of the first year or any subsequent year of insurance, which readjustment may be made retroactive for such policy year only.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218