Section 21.45.130. Payment of claims.

Latest version.

There shall be a provision that when a policy becomes a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer's option, surrender of the policy, proof of the interest of the claimant, or both.  If an insurer specifies a particular period before the expiration of which settlement shall be made, the period may not exceed two months from the receipt of the proofs.

Notes

History

(Sec. 1 ch 120 SLA 1966)

                    
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