500.4228 Reinstatement; provision required. Sec. 4228. There shall be a provision that the policy may be reinstated at any time within 2 years from date of the premium in default, unless the cash value has been paid or the period of extended term insurance expired, upon evidence of insurability satisfactory to the company and payment of arrears of premiums with interest at a rate not exceeding 6% per annum payable annually. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218
Michigan Legal Code