When any insurance policy certified under this chapter is canceled or terminated, the insurer shall report the fact to the Department of Motor Vehicles within fifteen days after the cancellation electronically or on a form prescribed by the department.

HISTORY: 1997 Act No. 154, Section 2; 2023 Act No. 51 (S.549), Section 5, eff July 1, 2024.

Editor's Note

2023 Act No. 51, Section 40(B), provides as follows:

"[SECTION 40.](B) SECTION 5 takes effect on the first day of the fiscal year following twelve months after approval by the Governor."

Effect of Amendment

2023 Act No. 51, Section 5, substituted "fact to the Department of Motor Vehicles" for "fact to the director", inserted "electronically or", and substituted "department" for "director".