General Assembly Substitute Bill No. 168
January Session, 2011 *_____SB00168INS___031611____*
General Assembly
Substitute Bill No. 168
January Session, 2011
*_____SB00168INS___031611____*
AN ACT CONCERNING LATE FEES FOR PERSONAL RISK INSURANCE POLICIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 38a-323c of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2011):
Each insurer that assesses a fee for late payment of premium on a policy for personal risk insurance, as defined in section 38a-663, shall indicate the amount and applicability of the fee in a conspicuous manner on the bill sent to the policyholder. No such fee shall exceed twenty-five dollars. Each such insurer shall allow a policyholder a period of grace that is not less than ten days after the date a premium payment was due before the fee becomes payable.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2011 38a-323c
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2011
38a-323c
INS Joint Favorable Subst.
INS
Joint Favorable Subst.