38.2-6107 - Grace period requirements. - Virginia Statutes

§ 38.2-6107. Grace period requirements.

The contract holder shall be given a 31-day grace period for the payment ofany premium falling due after the first premium during which coverage remainsin effect. If payment is not received within the 31 days, coverage may becancelled after the thirty-first day and the contract holder may be heldliable for the payment of the premium for the period of time coverageremained in effect during the grace period.

(2004, c. 668.)