§431:10D-309  Premiums paid direct.  Inthe case of weekly premium policies, there may be a provision that upon propernotice to the insurer while premiums on the policy are not in default beyondthe grace period, of the intention to pay future premiums directly to theinsurer at its home office or any office designated by the insurer for thepurpose, the insurer will, at the end of each period of a year from the duedate of the first premium so paid, for which period the premiums are so paidcontinuously without default beyond the grace period, refund a statedpercentage of the premiums in an amount which fairly represents the savings incollection expense. [L 1987, c 347, pt of §2]