2006 Michigan Compiled Laws - Mich. Comp. Laws § 500.4206 Grace period; provision required.
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Act 218 of 1956 500.4206 Grace period; provision required. Sec. 4206. There shall be a provision that the insured is entitled to a grace period of 4 weeks within which the payment of any premium after the first may be made, except that where premiums are payable monthly the period of grace shall be 1 month; and that during the period of grace the policy shall continue in full force, but if during such grace period the policy becomes a claim, then any overdue and unpaid premiums may be deducted from any amount payable under the policy in settlement.
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