Where an insurance contract is terminated under Article 650 (2), and no refund for termination is paid, a policyholder may demand a reinstatement of a contract by paying to the insurer delayed premiums, together with the agreed interest within a specified period. The provisions of Article 638-2 shall apply mutatis mutandis to this case.[This Article Newly Inserted by Act No. 4470, Dec. 31, 1991]
Laws › Commercial Act › CHAPTER I COMMON PROVISIONS
Commercial Act — Article 650-2 (Reinstatement of Insurance Contracts)
상법 제650조의2
This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.
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