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§ 5-309. Minimum aggregate reserves for life insurance policies

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 5. Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 3. Standard Valuation Law (Refs & Annos)
MD Code, Insurance, § 5-309
§ 5-309. Minimum aggregate reserves for life insurance policies
Application of section
(a) This section does not apply to reserves for disability and accidental death benefits and benefits for long-term home health care and long-term care in a nursing home or other related institution included in a life insurance policy.
Aggregate reserves for all life insurance policies
(b) An insurer's aggregate reserves for all life insurance policies may not be less than the aggregate reserves calculated in accordance with:
(1) the methods set forth in §§ 5-307, 5-308, 5-311, and 5-312 of this subtitle; and
(2) the mortality tables and rates of interest used in calculating nonforfeiture benefits for those policies.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1996, c. 60, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 83.
MD Code, Insurance, § 5-309, MD INSURANCE § 5-309
Current through legislation effective through June 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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