Inclusion of lapse of time considerations

  1. Law
  2. Maine Revised Statutes
  3. MAINE INSURANCE CODE
  4. LIFE INSURANCE AND ANNUITY CONTRACTS
  5. Inclusion of lapse of time considerations

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§2550. Inclusion of lapse of time considerations

Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.   [PL 1979, c. 442, §4 (NEW).]

SECTION HISTORY

PL 1979, c. 442, §4 (NEW).


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