§ 4022. Reinstatement of annuities
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 4022
§ 4022. Reinstatement of annuities
In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract may be reinstated at any time within one (1) year from the default in making stipulated payments to the insurer, unless the cash surrender value has been paid, but all overdue stipulated payments and any indebtedness to the insurer on the contract shall be paid or reinstated with interest thereon at a rate to be specified in the contract but not exceeding six percent (6%) per annum payable annually, and in cases where applicable the insurer may also include a requirement of evidence of insurability satisfactory to the insurer.
Credits
Laws 1957, p. 374, § 4022, operative July 1, 1957.
36 Okl. St. Ann. § 4022, OK ST T. 36 § 4022
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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