Minnesota Statutes 65A.07 – Cancellation of Fire Policy
Current as of: 2023 | Check for updates
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Any fire insurance company which has not collected the premium on its policy at the time of the delivery thereof may print or endorse, or attach by rider, on its policy the following clause:
Terms Used In Minnesota Statutes 65A.07
- Contract: A legal written agreement that becomes binding when signed.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
“If the insured hereunder shall not have actually paid the premium hereon, or any part thereof, within 60 days from the date of this policy, then this policy may be canceled by the insurer by giving five days’ written notice to the insured and to the mortgagee, or other person to whom the policy is made payable, if any, without tendering any part or portion of such premium, anything to the contrary in the policy contract notwithstanding.”