Amendment to Chap. 1 of Act No. 2427 (The Insurance Act)
Act No. 4101, enacted on December 1, 1933, amends the Philippine Insurance Act by establishing a minimum one-year period for initiating lawsuits related to insurance policies. It declares any provision in an insurance policy that restricts the time for filing a claim to less than one year as void. This amendment aims to protect policyholders by ensuring they have adequate time to pursue legal action. The Act takes effect upon its approval.
Law Information
- Reference Number
- Act No. 4101
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 1, 1933
ACT NO. 4101
AN ACT AMENDING CHAPTER ONE OF ACT NUMBERED TWENTY FOUR HUNDRED AND TWENTY-SEVEN, KNOWN AS "THE INSURANCE ACT," SO AS TO PROVIDE A TIME LIMIT OF NOT LESS THAN ONE YEAR FOR BRINGING SUIT UNDER ANY POLICY OF INSURANCE, AND FOR OTHER PURPOSES
SECTION 1. Chapter one of Act Numbered Twenty-four hundred and twenty-seven is hereby amended by inserting the following section therein:
"SEC. 61-A. Any condition, stipulation or agreement in any policy of insurance, limiting the time for commencing an action thereunder to a period of less than one year from the time when the cause of action accrues, is void."
SECTION 2. This Act shall take effect on its approval.
Approved, December 1, 1933.
Cite This Law
Amendment to Chap. 1 of Act No. 2427 (The Insurance Act), Act No. 4101, Dec 1, 1933 (Philippines)
Amendment to Chap. 1 of Act No. 2427 (The Insurance Act), Act No. 4101 (Phil. 1933)
Related Laws
- Amendment to Chapter 1 of Act No. 2427 (Insurance Act)Act No. 3802 • Dec 4, 1930 • Statutes
- Amendment to Insurance Act Re: Payment of Premium on Insurance PoliciesRepublic Act No. 3540 • Jun 20, 1963 • Statutes
- Amendments to Act No. 2427 (The Insurance Act)Republic Act No. 273 • Jun 15, 1948 • Statutes
- Amendments to Act No. 2427 (Insurance Law)Act No. 3575 • Nov 26, 1929 • Statutes
- Amendments to Act No. 2427 (The Insurance Act)Republic Act No. 171 • Jun 20, 1947 • Statutes
- The Insurance ActAct No. 2427 • Dec 11, 1914 • Statutes
Browse More Statutes
Explore other laws in the Statutes category.
View All StatutesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law