Minnesota Statutes § 66A.17 - MUTUAL FIRE INSURANCE COMPANIES; PROVISIONS AS TO POLICIES LAPSING
A mutual property insurer may set policy terms so a member’s policy lapses after 60 days of nonpayment after notice, and the company may recover only the earned premium or assessment. The policy may also be reinstated if a delinquent assessment is voluntarily accepted before suit.
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policy lapse premium collection reinstatement
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Minnesota Statutes § 66A.17 - MUTUAL FIRE INSURANCE COMPANIES; PROVISIONS AS TO POLICIES LAPSING
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