Any person who--
(a) receives, or takes credit for, any premium or consideration for any contract of insurance and does not, within one month after receiving, or taking credit for, such premium or consideration, make out and execute a duly stamped policy of such insurance; or
(b) makes, executes or delivers out any policy which is not duly stamped, or pays or allows in account, or agrees to pay or allow in account, any money upon, or in respect of, any such policy;
shall be punishable with fine which may extend to two hundred rupees.
STATE AMENDMENT
Arunachal Pradesh.--
Amendment of sections 66,--
In section 66, in clause (b), for the words"two hundred rupees", the words "five hundred rupees" shall be substituted.
[Vide Arunachal Pradesh 3 of 2010, s. 2]
(a) receives, or takes credit for, any premium or consideration for any contract of insurance and does not, within one month after receiving, or taking credit for, such premium or consideration, make out and execute a duly stamped policy of such insurance; or
(b) makes, executes or delivers out any policy which is not duly stamped, or pays or allows in account, or agrees to pay or allow in account, any money upon, or in respect of, any such policy;
shall be punishable with fine which may extend to two hundred rupees.
STATE AMENDMENT
Arunachal Pradesh.--
Amendment of sections 66,--
In section 66, in clause (b), for the words"two hundred rupees", the words "five hundred rupees" shall be substituted.
[Vide Arunachal Pradesh 3 of 2010, s. 2]
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Instruments chargeable with duty.Section 3A · [Repealed.].Section 4 · Several instruments used in single transaction of sale, mortgage or settlement.Section 5 · Instruments relating to several distinct matters.Section 6 · Instruments coming within several descriptions in Schedule I.Section 7 · Policies of sea-insurance.India Code, Government of India. Text fetched 10 Oct 2026. Source metadata reports last modification: 2019-11-29. Check the linked official text and subsequent notifications when applying a provision.