Section 27-14-20 – Renewal or Extension of Policies.
Section 27-14-20 Renewal or extension of policies. Any insurance policy terminating by its term at a specified expiration date and not otherwise renewable may be renewed or extended at the option of the insurer, and upon a currently authorized policy form and at the premium rate then required therefor for a specific additional period, or […]
Section 27-14-21 – Assignment of Policies.
Section 27-14-21 Assignment of policies. (a) A policy may be assignable or not assignable, as provided by its terms. Subject to its terms relating to assignability, any life or disability policy, whether heretofore or hereafter issued, under the terms of which the beneficiary may be changed upon the sole request of the owner, may be […]
Section 27-14-22 – Situs of Contracts.
Section 27-14-22 Situs of contracts. All contracts of insurance, the application for which is taken within this state, shall be deemed to have been made within this state and subject to the laws thereof. (Code 1940, T. 28, §10; Acts 1971, No. 407, p. 707, §335.)
Section 27-14-23 – Effect of War on Contracts of Foreign Insurer.
Section 27-14-23 Effect of war on contracts of foreign insurer. No insurance contract issued to a citizen of this state by an insurer organized under the laws of a foreign country shall be invalidated by the occurrence of hostilities between such foreign country and the United States of America. (Code 1940, T. 28, §8; Acts […]
Section 27-14-10 – Standard or Uniform Provisions; Waiver or Substitution Thereof.
Section 27-14-10 Standard or uniform provisions; waiver or substitution thereof. (a) Insurance contracts shall contain such standard or uniform provisions as are required by the applicable provisions of this title pertaining to contracts of particular kinds of insurance; however, the commissioner may waive the required use of a particular provision in a particular insurance policy […]
Section 27-14-11 – Contents of Policies – Generally.
Section 27-14-11 Contents of policies – Generally. (a) Every policy shall specify: (1) The names of the parties to the contract; (2) The subject of the insurance; (3) The risks insured against; (4) The time when the insurance thereunder takes effect and the period during which the insurance is to continue; (5) The premium; and […]
Section 27-14-11.1 – Contents of Policies – Denial or Reduction of Benefits Due to Medicaid Eligibility Void.
Section 27-14-11.1 Contents of policies – Denial or reduction of benefits due to Medicaid eligibility void. (a) For purposes of this section, “private insurer” is defined as any of the following: (1) Any commercial insurance company offering health or casualty insurance to individuals or groups, including both experience-rated contracts and indemnity contracts. (2) Any profit […]
Section 27-14-12 – Contents of Policies – Additional Provisions.
Section 27-14-12 Contents of policies – Additional provisions. A policy may contain additional provisions not inconsistent with this title and which are: (1) Required to be inserted by the laws of the insurer’s domicile; (2) Necessary, on account of the manner in which the insurer is constituted or operated, in order to state the rights […]
Section 27-14-13 – Charter, Bylaws, etc., of Insurer as Part of Contract.
Section 27-14-13 Charter, bylaws, etc., of insurer as part of contract. No policy shall contain any provision purporting to make any portion of the charter, bylaws, or other constituent document of the insurer, other than the subscriber’s agreement or power of attorney of a reciprocal insurer, a part of the contract unless such portion is […]
Section 27-14-14 – Execution of Policies.
Section 27-14-14 Execution of policies. (a) Every insurance policy shall be executed in the name of and on behalf of the insurer by its officer, attorney-in-fact, employee, or representative duly authorized by the insurer. (b) A facsimile signature of any such executing individual may be used in lieu of an original signature. (c) No insurance […]