IC 27-7-11-2: Policy effective date; cancellation

Sec. 2. A drought insurance policy becomes effective and is not subject to cancellation:

(1) at the time stated in the application for the insurance; or

(2) fourteen (14) days after the applicant submits the premium payment;

whichever occurs first, unless the application is refused in writing and the premium payment is returned within fourteen (14) days after the premium payment is submitted.