40-1015. Withdrawal of member of company; return premium; cancellation of policy, notice.
40-1015
40-1015. Withdrawal of member of company; return premium; cancellationof policy, notice.Any member of such company may withdraw therefrom by surrendering hispolicy, together with a notice in writing to the secretary of his intentionso to do. Return premium, if any, shall be computed on shortrate basis. Thecompany shall have power to cancel and terminate any policy or any partthereof by mailing a notice of such cancellation and the company's checkfor the unearned pro rata premium thereon to the insured at the lastpost-office address furnished by the insured to the company or by deliveryof such notice and unearned premium to the insured in person.
History: L. 1927, ch. 231, 40-1015; L. 1931, ch. 206, § 2; May 28.