376.726. Nonpayment of premiums, effect of. - Missouri Statutes

Nonpayment of premiums, effect of.

376.726. 1. Nonpayment of premiums within thirty-one daysafter the date required under the terms of any guaranteed,assumed, alternative or reissued policy or contract orsubstitute coverage shall terminate the association'sobligations under such policy or coverage under sections 376.715to 376.758 with respect to such policy or coverage, except withrespect to any claims incurred or any net cash surrender valuewhich may be due in accordance with the provisions of sections376.715 to 376.758.

2. Premiums due for coverage after entry of an order ofliquidation of an insolvent insurer shall belong to and bepayable at the direction of the association, and the associationshall be liable for unearned premiums due to policy or contractowners arising after the entry of such order.

(L. 1988 S.B. 430 § 9)