Renewal or extension of policy at option of insurer

Any insurance policy terminating by its terms at a specified expiration date and not otherwise renewable, may be renewed or extended at the option of the insurer and upon a currently authorized policy form and at the premium rate then required therefor, for additional periods by certificate or by endorsement of the policy, and without requiring the issuance of a new policy. Source: SL 1966, ch 111 , ch 22, § 26.