(a) Any provision required under § 16-303(b) through (g) of this subtitle may be omitted from a policy of life insurance to the extent that the provision does not apply under the insurance plan.
(b) The insurer shall reserve the right to defer the payment of any cash surrender value for up to 6 months after demand for payment with surrender of the policy.
Structure Maryland Statutes
Title 16 - Life Insurance and Annuities
Subtitle 3 - Maryland Standard Nonforfeiture Law for Life Insurance
Section 16-301 - Scope of Subtitle; Applicability of Subtitle
Section 16-302 - Operative Date of Subtitle
Section 16-303 - Required Policy Provisions
Section 16-304 - Inapplicable Provisions; Deferral of Payment of Cash Surrender Value
Section 16-305 - Cash Surrender Value
Section 16-306 - Paid-Up Nonforfeiture Benefit After Premium in Default
Section 16-307 - Adjusted Premiums -- Policies Issued Before Operative Date of 16-309
Section 16-308 - Adjusted Premiums -- Applicable Tables
Section 16-309 - Adjusted Premiums -- Policies Issued After Operative Date of Section
Section 16-310 - Plans to Which 16-303 Through 16-309 Not Applicable
Section 16-311 - Miscellaneous Calculation Provisions
Section 16-312 - Cash Surrender Values -- Policies Issued on or After January 1, 1986