2016 Maryland Code
Insurance
Title 16 - Life Insurance and Annuities
Subtitle 4 - Annuity and Pure Endowment Contract Provisions
§ 16-401. Standard provisions required; exceptions
(a) Standard provisions required. -- Except as otherwise provided in this section, an annuity contract or pure endowment contract may not be delivered or issued for delivery in the State unless it contains in substance each applicable provision required by ยงยง 16-402 through 16-407 of this subtitle.
(b) Exceptions. -- This section does not apply to:
(1) reversionary annuities or survivorship annuities;
(2) group annuities; or
(3) contracts for deferred annuities included in or on the lives of beneficiaries under policies of life insurance.
(c) Single premium contracts. -- To the extent that a provision required by this subtitle does not apply to a single premium annuity contract or single premium pure endowment contract, the provision need not be included in the annuity contract or pure endowment contract.
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