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MARINE INSURANCE ACT

Section 53: When premium payable.

1961Section 53 of 91•Federal Republic of Nigeria

Unless otherwise agreed, the duty of the assured or his agent to pay the premium, and the duty of the insurer to issue the policy to the assured or his agent, are concurrent conditions, and the insurer shall not be bound to issue the policy until payment or tender of the premium.

Cite this section

Section 53, MARINE INSURANCE ACT (1961).

https://repo.podus.ai/laws/marine-insurance-act/section/53/