307MAI policy in effect while insurer on risk—trader’s plates

307 MAI policy in effect while insurer on risk—trader’s plates (1) An MAI policy for a motor vehicle with a valid trader’s plate attached is in force for the period for which the MAI insurer is on risk under this section. (2) The MAI insurer of the motor vehicle is on risk for the period for which the valid trader’s plate is attached to the motor vehicle. (3) The MAI insurer ceases to be on risk if the trader’s plate is detached from the vehicle. (4) The MAI insurer ceases to be on risk if the MAI policy is cancelled. Note Cancellation of MAI policies for a motor vehicle with a trader’s plate attached is dealt with in s 312.