Assessable life insurance or annuities prohibited

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    A life insurer may not:

        (1)    issue or deliver in the State a policy of life insurance or an annuity contract that provides for the payment of an assessment by a policyholder or member in addition to the premium stated in the policy or annuity contract to be charged for the life insurance or annuity; or

        (2)    levy or collect an assessment prohibited by item (1) of this section.


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