§ 27-8-6 - Notice to mutual policyholders of dividend or unused premium.
SECTION 27-8-6
§ 27-8-6 Notice to mutual policyholders ofdividend or unused premium. – Every policyholder of a mutual fire insurance company incorporated by thisstate, and every policyholder of a mutual fire insurance company incorporatedby any other state or country and authorized to transact business in thisstate, shall be notified at his or her last known address within six (6) monthsafter the expiration of his or her policy of the amount of dividend or unusedor unabsorbed premium or premium deposit return declared and payable on it,unless that dividend or unused or unabsorbed premium or premium deposit returnhas been paid in cash or credited to the policyholder or applied in payment ofthe premium or premium deposit on the renewal of his or her policy.