US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 19
                           LIFE INSURANCE POLICIES
                            AND ANNUITY CONTRACTS
    41-1921.  MISSTATEMENT OF AGE OR SEX -- ANNUITIES. In an annuity or pure
endowment contract, other than a reversionary, survivorship, or group annuity,
there shall be a provision that if the age or sex of the person or persons
upon whose life or lives the contract is made, or of any of them, has been
misstated, the amount payable or benefits accruing under the contract shall be
such as the stipulated payment or payments to the insurer would have purchased
according to the correct age or sex and that if the insurer shall make or has
made any overpayment or overpayments on account of any such misstatement, the
amount thereof with interest at the rate to be specified in the contract but
not exceeding six per cent (6%) per annum, may be charged against the current
or next succeeding payment or payments to be made by the insurer under the
contract.