(1) For certificates issued prior to October 1, 1982, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted shall comply with the provisions of law applicable immediately prior thereto.
(2) For certificates issued on or after October 1, 1982, reserves shall be computed utilizing the appropriate mortality tables approved by the office for policies containing life insurance benefits made applicable to life insurers under s. 625.121.
History.—ss. 4, 6, ch. 86-140; s. 4, ch. 91-429; s. 1383, ch. 2003-261.
Structure Florida Statutes
Chapter 632 - Fraternal Benefit Societies
632.601 - “Fraternal Benefit Society” Defined.
632.602 - “Lodge System” Defined.
632.603 - “Representative Form of Government” Defined.
632.605 - Purposes and Powers.
632.606 - Qualifications for Membership.
632.607 - Location of Office; Meetings; Communications to Members; Grievance Procedures.
632.608 - No Personal Liability.
632.615 - Consolidations and Mergers.
632.616 - Conversion of Fraternal Benefit Society Into Mutual Life Insurance Company.
632.619 - Benefits Not Attachable.
632.621 - The Benefit Contract.
632.622 - Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, and Other Options.
632.631 - Examination of Societies; No Adverse Publications.
632.632 - Foreign or Alien Society; Admission.
632.634 - Licensing and Appointment of Agents.
632.635 - Unfair and Deceptive Acts and Practices.
632.636 - Violations; Penalties.