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§ 5-303. Application of subtitle to policies and contracts issued before, on, or after operativ...

West's Annotated Code of MarylandInsuranceEffective: October 1, 2015

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)
Effective: October 1, 2015
MD Code, Insurance, § 5-303
§ 5-303. Application of subtitle to policies and contracts issued before, on, or after operative date of Standard Nonforfeiture Law
Policies and contracts issued before valuation manual’s operative date
(a) Except as otherwise provided in §§ 5-305 and 5-306 of this subtitle for group annuity contracts and pure endowment contracts issued before the operative date of the Maryland Standard Nonforfeiture Law for Life Insurance:
(1) §§ 5-304 through 5-312 of this subtitle apply only to policies and contracts, as appropriate, issued on or after that operative date and before the operative date of the valuation manual; and
(2) §§ 5-313 and 5-314 of this subtitle do not apply to the policies and contracts.
Policies and contracts issued on or after valuation manual’s operative date
(b) Sections 5-313 and 5-314 of this subtitle apply to all life insurance policies, accident and health insurance contracts, and deposit-type contracts issued by a company on or after the operative date of the valuation manual.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 2015, c. 367, § 2, eff. Oct. 1, 2015.
Formerly Art. 48A, § 83.
MD Code, Insurance, § 5-303, MD INSURANCE § 5-303
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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