§ 27-29-13.1 - Late payment of premium.
SECTION 27-29-13.1
§ 27-29-13.1 Late payment of premium.– An insurer may levy and collect a maximum fee or charge of ten dollars ($10.00)for any late payment of premium by a policyholder for any property, casualty,fire and marine or liability policy of insurance. A late fee may not be imposedunless payment is received more than five (5) business days following the datepayment is due.