Common use of STATE REQUIREMENTS AND DISCLOSURES Clause in Contracts

STATE REQUIREMENTS AND DISCLOSURES. Alabama: CANCELLATION OF THE AGREEMENT section is amended as follows: If the Agreement is cancelled, the You shall be entitled to a pro rata refund of the paid Agreement fee for the unexpired term, less service and a $25 administrative cost incurred by Obligor. If the Agreement is cancelled within thirty (30) days of the date the service Agreement was mailed or within ten (10) days of delivery if the Agreement is delivered at the time of sale and no claims have been made, the Agreement Holder is entitled a refund of 100% of the premium. A ten percent (10%) penalty per month will be applied to refunds not paid or credited within forty-five (45) days of receipt of returned Agreement by administrator or obligor.

STATE REQUIREMENTS AND DISCLOSURES. Alabama: CANCELLATION OF THE AGREEMENT section is amended as follows: If the Agreement is cancelled, the You shall be entitled to a pro rata refund of the paid Agreement fee for the unexpired term, less service and a $25 administrative cost incurred by Obligor. If the Agreement is cancelled within thirty (30) days of the date the service Agreement was mailed or within ten (10) days of delivery if the Agreement is delivered at the time of sale and no claims have been made, the Agreement Holder is entitled a refund of 100% of the premium. A ten percent (10%) penalty per month will be applied to refunds not paid or credited within forty-five (45) days of receipt of returned Agreement by administrator or obligorAgreement.