375.001. Definitions.
Definitions.
375.001. 1. As used in this chapter, unless otherwise clearlyindicated by the context, the following words mean:
(1) "Department", the department of insurance, financial institutionsand professional registration;
(2) "Director", the director of the department of insurance,financial institutions and professional registration.
2. As used in sections 375.001 to 375.008 the following words andterms mean:
(1) "Insurer", all insurance companies, reciprocals, orinterinsurance exchanges transacting the business of insurance in thisstate;
(2) "Nonpayment of premium", failure of the named insured todischarge when due any of his obligations in connection with the payment ofpremiums on the policy, or any installment of the premium, whether thepremium is payable directly to the insurer or its agent or indirectly underany premium finance plan or extension of credit;
(3) "Nonrenewal", the determination of an insurer not to issue ordeliver a policy replacing at the end of the policy period a policypreviously issued and delivered by the same insurer or a certificate ornotice extending the term of a policy beyond its policy period or term;
(4) "Policy", a contract of insurance providing fire and extendedcoverage insurance, whether separately or in combination with othercoverages, on owner-occupied habitational property not exceeding twofamilies. "Policy" does not include any insurance contracts issued under aproperty insurance inspection and placement program ("FAIR" plan) or anassigned risk plan, or any insurance contracts insuring property not usedpredominantly for habitational purposes, or an insurance contract insuringa mobile home;
(5) "Renewal" or "to renew", the issuance and delivery by an insurerof a policy replacing at the end of the policy period a policy previouslyissued and delivered by the same insurer, or the issuance and delivery of acertificate or notice extending the term of the policy beyond its policyperiod or term. Any policy with a policy period or term of less than sixmonths shall for the purposes of sections 375.001 to 375.008 be consideredas if written for a policy period or term of six months. Any policywritten for a term longer than one year or any policy with no fixedexpiration date shall, for the purpose of sections 375.001 to 375.008, beconsidered as if written for successive policy periods or terms of oneyear, and the policy may be terminated at the expiration of any annualperiod upon giving thirty days' notice of cancellation prior to theanniversary date, and the cancellation shall not be subject to any otherprovisions of sections 375.001 to 375.008.
(L. 1977 S.B. 300 § 1, A.L. 2008 S.B. 788)