US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 32
                         FRATERNAL BENEFIT SOCIETIES
    41-3220.  NONFORFEITURE BENEFITS, CASH SURRENDER VALUES, CERTIFICATE LOANS
AND OTHER OPTIONS. (1) For certificates issued prior to one (1) year after the
effective date of this act, the value of every paid-up nonforfeiture benefit
and the amount of any cash surrender value, loan or other option granted shall
comply with the provisions of law applicable immediately prior to the
effective date of this act.
    (2)  For certificates issued on or after one (1) year from the effective
date of this act for which reserves are computed on the commissioner's 1941
standard ordinary mortality table, the commissioner's 1941 standard industrial
table or the commissioner's 1958 standard ordinary mortality table, or the
commissioner's 1980 standard mortality table, or any more recent table made
applicable to life insurers, every paid-up nonforfeiture benefit and the
amount of any cash surrender value, loan or other option granted shall not be
less than the corresponding amount ascertained in accordance with the laws of
this state applicable to life insurers issuing policies containing like
benefits based upon such tables.