§431:10D-309  Premiums paid direct.  In
the case of weekly premium policies, there may be a provision that upon proper
notice to the insurer while premiums on the policy are not in default beyond
the grace period, of the intention to pay future premiums directly to the
insurer at its home office or any office designated by the insurer for the
purpose, the insurer will, at the end of each period of a year from the due
date of the first premium so paid, for which period the premiums are so paid
continuously without default beyond the grace period, refund a stated
percentage of the premiums in an amount which fairly represents the savings in
collection expense. [L 1987, c 347, pt of §2]