§ 4106. Group annuity--Grace period
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 4106
§ 4106. Group annuity--Grace period
In group annuity contracts there shall be a provision that there shall be a period of grace, either of thirty (30) days or of one (1) month, within which any stipulated payment to be remitted by the holder to the insurer, falling due after one (1) year from date of issue, may be made, subject, at the option of the insurer, to an interest charge thereon at a rate to be specified in the contract, which shall not exceed six percent (6%) per annum for the number of days of grace elapsing before such payment.
Credits
Laws 1957, p. 384, § 4106, operative July 1, 1957.
36 Okl. St. Ann. § 4106, OK ST T. 36 § 4106
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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