Policy effective date; cancellation

Sec. 2. A drought insurance policy becomes effective and is not subject to cancellation: (1) at the time stated in the application for the insurance; or (2) fourteen (14) days after the applicant submits the premium payment; whichever occurs first, unless the application is refused in writing and the premium payment is returned within fourteen (14) days after the premium payment is submitted. As added by P.L.250-1989, SEC.1.