Maine Revised Statutes Title 24-A Sec. 2403 – “Premium” defined
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Terms Used In Maine Revised Statutes Title 24-A Sec. 2403
- Contract: A legal written agreement that becomes binding when signed.
“Premium” is the consideration for insurance, by whatever name called. Any “assessment”, or any “membership”, “policy”, “survey”, “inspection”, “service” or similar fee or other charge in consideration for an insurance contract is deemed part of the premium. [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).