State Codes and Statutes

Statutes > Maine > Title24a > Title24-Ach29sec0 > Title24-Asec2545

Title 24-A: MAINE INSURANCE CODE

Chapter 29: LIFE INSURANCE AND ANNUITY CONTRACTS

§2545. Computation of present value

Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. The present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract. [1979, c. 442, §4 (NEW).]

SECTION HISTORY

1979, c. 442, §4 (NEW).

State Codes and Statutes

Statutes > Maine > Title24a > Title24-Ach29sec0 > Title24-Asec2545

Title 24-A: MAINE INSURANCE CODE

Chapter 29: LIFE INSURANCE AND ANNUITY CONTRACTS

§2545. Computation of present value

Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. The present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract. [1979, c. 442, §4 (NEW).]

SECTION HISTORY

1979, c. 442, §4 (NEW).


State Codes and Statutes


Back To Homepage

State Codes and Statutes

Statutes > Maine > Title24a > Title24-Ach29sec0 > Title24-Asec2545

Title 24-A: MAINE INSURANCE CODE

Chapter 29: LIFE INSURANCE AND ANNUITY CONTRACTS

§2545. Computation of present value

Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. The present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract. [1979, c. 442, §4 (NEW).]

SECTION HISTORY

1979, c. 442, §4 (NEW).


Disclaimer
There is no confidential attorney-client relationship formed by using Laws.com website and information provided on this site is not legal advice. For legal advice, please contact your attorney. Attorneys listed on this website are not referred or endorsed by this website. By using Laws.com you agree to Laws.com Terms Of Use.
Copyright © 2017 Laws.com | All rights reserved

Loading..

Close Window

Loading, Please Wait!

This may take a second or two.