Article 21. Procedure for payment of insurance premiums The Law on Compulsory Insurance of Civil Liability of Vehicle Owners
1. Unless otherwise provided by the contract of compulsory liability insurance for vehicle owners, the insurance premium is paid by the policyholder in a one-time payment.
2. The insurer has the right to provide for payment of the insurance premium in installments in the contract of compulsory liability insurance of vehicle owners. In this case, the insurer is responsible to the policyholder during the entire term of the compulsory liability insurance contract for vehicle owners. Failure by the policyholder to pay the next insurance premium may not be grounds for the insurer to terminate the compulsory liability insurance contract for vehicle owners ahead of schedule.
2-1. The insurer provides an opportunity to pay the insurance premium in a non-cash way through the insurer's online resource.
3. In case of late payment of the next insurance premium, the policyholder is obliged to pay the insurer a penalty in the manner and amount established by Article 353 of the Civil Code of the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan dated July 1, 2003 No. 446.
This Law regulates relations arising in the field of compulsory insurance of civil liability of vehicle owners, and establishes the legal, financial and organizational basis for its implementation.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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