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2020 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 29: LIFE INSURANCE AND ANNUITY CONTRACTS
24-A §2545. Computation of present value
Universal Citation: 24-A ME Rev Stat § 2545 (2020)
§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. [PL 1979, c. 442, §4 (NEW).]
SECTION HISTORY
PL 1979, c. 442, §4 (NEW).
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