TITLE 27
Insurance
CHAPTER 27-29
Unfair Competition and Practices
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 imposed
unless payment is received more than five (5) business days following the date
payment is due.
History of Section.
(P.L. 2005, ch. 69, § 1; P.L. 2005, ch. 79, § 1.)