33-7-524. Nonforfeiture benefits, cash surrender values, certificate loans, and other options. (1) For certificates issued prior to July 1, 1993, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted must comply with the provisions of law applicable immediately prior to July 1, 1992.
(2) For certificates issued on or after July 1, 1993, for which reserves are computed on the commissioner of insurance's 1941 standard ordinary mortality table, the commissioner's 1941 standard industrial mortality table, the commissioner's 1958 standard ordinary mortality table, the commissioner's 1980 standard mortality table, or any more recent table made applicable to life insurers, every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted may not be less than the corresponding amount ascertained in accordance with the laws of this state applicable to life insurers issuing policies containing similar benefits based upon the tables.
History: En. Sec. 20, Ch. 586, L. 1991.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 7. Fraternal Benefit Societies
33-7-522. Benefits not attachable
33-7-524. Nonforfeiture benefits, cash surrender values, certificate loans, and other options
33-7-525. Insurance producer defined -- fraternal benefit society insurance contracts
33-7-531. Foreign or alien society -- admission
33-7-532. Insurance producer licensing -- fraternal benefit society
33-7-533. Unfair methods of competition and unfair or deceptive acts and practices