A State Statute Usually Requires That the Insurer Give Advance

question 20

True/False

A state statute usually requires that the insurer give advance written notice of the cancellation of a policy to the insured.

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Definitions:

Executory Contract

A contract under which both parties to the agreement have outstanding obligations or performance yet to be completed.

Novated

The process of replacing an original contract with a new one, transferring rights and obligations to another party.

Section 29

Without additional context, this is too vague, but it could refer to a specific section of a law or regulation depending on the context.

Ambiguous

Lacking clear definition or boundaries, open to more than one interpretation or understanding.