State Codes and Statutes

Statutes > New-jersey > Title-17b > Section-17b-25 > 17b-25-33

17B:25-33  Effective date, applicability.

14. This act shall take effect immediately and shall apply as follows:

a.Before the second anniversary of the effective date of this act, on a contract form-by-contract form basis, to those annuity contracts for which the company has filed a notice of election of applicability with the Commissioner of Banking and Insurance.  A company that elects not to file using the "Indexed Standard Forfeiture Law for Individual Deferred Annuities," P.L.2005, c.194 (C.17B:25-21 et al.), may continue to use contract forms which use the interest rate of 1 1/2% per annum for minimum nonforfeiture values as specified by paragraph (4) of subsection g. of section 5 of P.L.1981, c.285 (C.17B:25-20).

b.In all other instances, to all annuity contracts issued by the company on or after the second anniversary of the effective date.

L.2005,c.194,s.14.

State Codes and Statutes

Statutes > New-jersey > Title-17b > Section-17b-25 > 17b-25-33

17B:25-33  Effective date, applicability.

14. This act shall take effect immediately and shall apply as follows:

a.Before the second anniversary of the effective date of this act, on a contract form-by-contract form basis, to those annuity contracts for which the company has filed a notice of election of applicability with the Commissioner of Banking and Insurance.  A company that elects not to file using the "Indexed Standard Forfeiture Law for Individual Deferred Annuities," P.L.2005, c.194 (C.17B:25-21 et al.), may continue to use contract forms which use the interest rate of 1 1/2% per annum for minimum nonforfeiture values as specified by paragraph (4) of subsection g. of section 5 of P.L.1981, c.285 (C.17B:25-20).

b.In all other instances, to all annuity contracts issued by the company on or after the second anniversary of the effective date.

L.2005,c.194,s.14.

State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-17b > Section-17b-25 > 17b-25-33

17B:25-33  Effective date, applicability.

14. This act shall take effect immediately and shall apply as follows:

a.Before the second anniversary of the effective date of this act, on a contract form-by-contract form basis, to those annuity contracts for which the company has filed a notice of election of applicability with the Commissioner of Banking and Insurance.  A company that elects not to file using the "Indexed Standard Forfeiture Law for Individual Deferred Annuities," P.L.2005, c.194 (C.17B:25-21 et al.), may continue to use contract forms which use the interest rate of 1 1/2% per annum for minimum nonforfeiture values as specified by paragraph (4) of subsection g. of section 5 of P.L.1981, c.285 (C.17B:25-20).

b.In all other instances, to all annuity contracts issued by the company on or after the second anniversary of the effective date.

L.2005,c.194,s.14.