Bill Text: CT SB00168 | 2011 | General Assembly | Comm Sub

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Bill Title: An Act Concerning Late Fees For Personal Risk Insurance Policies.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2011-03-31 - File Number 303 [SB00168 Detail]

Download: Connecticut-2011-SB00168-Comm_Sub.html

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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 Section 38a-323c of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2011):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

INS

Joint Favorable Subst.