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§ 16-107. Contestability and liability restrictions of reinstated policies and contracts

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 16. Life Insurance and Annuities
Subtitle 1. General Provisions (Refs & Annos)
MD Code, Insurance, § 16-107
§ 16-107. Contestability and liability restrictions of reinstated policies and contracts
Contests on account of fraud or misrepresentation of facts
(a) A reinstated policy of life insurance or reinstated annuity contract may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period after reinstatement and with the same conditions and exceptions as the policy or annuity contract provides with respect to contestability after original issue.
Exclusions or restrictions of liability
(b)(1) A reinstated policy of life insurance or reinstated annuity contract may exclude or restrict liability to the same extent that liability might have been or was excluded or restricted when the policy or annuity contract originally was issued.
(2) The exclusion or restriction is effective as of the date of reinstatement.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 412.
MD Code, Insurance, § 16-107, MD INSURANCE § 16-107
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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