Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
61A.10 EXTENSION OF TIME FOR PAYMENT OF PREMIUMS.
Parties to any policy of life insurance now or hereafter issued shall have the right at any time
to mutually agree, in writing, for an extension of time in which to pay a second or subsequent
premium on the policy, upon condition that the failure to pay the amount agreed upon at the time
agreed, shall lapse the policy as of the date mutually agreed upon in the writing; provided, no
such agreement shall impair any right to extended or paid-up insurance which the insured may
have under the policy, nor any right to have the premiums, any part thereof, or the amount payable
for the extension charged against the policy under the terms of the policy. No such agreement
need be attached to or made a part of the insurance policy so affected.
History: 1967 c 395 art 2 s 10
Parties to any policy of life insurance now or hereafter issued shall have the right at any time
to mutually agree, in writing, for an extension of time in which to pay a second or subsequent
premium on the policy, upon condition that the failure to pay the amount agreed upon at the time
agreed, shall lapse the policy as of the date mutually agreed upon in the writing; provided, no
such agreement shall impair any right to extended or paid-up insurance which the insured may
have under the policy, nor any right to have the premiums, any part thereof, or the amount payable
for the extension charged against the policy under the terms of the policy. No such agreement
need be attached to or made a part of the insurance policy so affected.
History: 1967 c 395 art 2 s 10
Official Publication of the State of Minnesota
Revisor of Statutes