2006 Utah Code - 31A-23a-404 — Extension of credit on premiums.

     31A-23a-404.   Extension of credit on premiums.
     The extension of credit upon a premium by a licensee under this chapter to the insured, without interest for not exceeding 90 days from the effective date of the policy, or after that time with interest on the unpaid balance at not less than the legal rate under Section 15-1-1, is not a violation of Subsection 31A-23a-402(2). The installment or payroll deduction payment of premiums on policies issued under an insurer's mass marketing program is not an extension of credit.

Renumbered and Amended by Chapter 298, 2003 General Session