The commissioner shall issue rules establishing monthly, quarterly, semiannual, and annual premium payments for persons who are required to purchase insurance under this part 6. An insurer providing a plan for payments on a basis that is more frequent than quarterly need not also provide a quarterly payment plan. An insurer's plan for payments may provide for payment of an advance deposit premium.
Source: L. 2003: Entire section added, p. 1563, § 3, effective July 1. L. 2008: Entire section amended, p. 386, § 1, effective August 5.