---
kind: "section"
citation: "20 C.F.R. § 703.112"
title: "20"
number: "703.112"
heading: "Terms of policies."
url: "https://uscodex.org/cfr/20/703.112"
---

# §703.112. Terms of policies.


A policy or contract of insurance shall be issued for the term of not less than 1 year from the date that it becomes effective, but if such insurance be not needed except for a particular contract or operation, the term of the policy may be limited to the period of such contract or operation.


## Notes

### Authority

Authority: 5 U.S.C. 301, and 8171 et seq.; 33 U.S.C. 901 et seq.; 42 U.S.C. 1651 et seq.; 43 U.S.C. 1333; Reorganization Plan No. 6 of 1950, 15 FR 3174, 64 Stat. 1263; Secretary's Order 10-2009, 74 FR 58834.

### Source

Source: 38 FR 26873, Sept. 26, 1973, unless otherwise noted.