§ 27-32-5. Benefits on variable basis.
If the agreement provides for the payment of benefits in variable amounts, it shall contain a statement of the essential features of the procedure to be followed by the company in determining the dollar amount of the variable benefits. Any agreement and any certificate issued under it shall state that the dollar amount may decrease or increase and shall contain on its first page a statement that the benefits under it are on a variable basis.
History of Section.P.L. 1966, ch. 161, § 1.
Structure Rhode Island General Laws
Chapter 27-32 - Pension, Profit Sharing or Annuity Plans
Section 27-32-1. - Separate accounts authorized.
Section 27-32-2. - Investments of accounts.
Section 27-32-3. - Gains or losses allocated to each account.
Section 27-32-4. - Valuation of accounts.
Section 27-32-5. - Benefits on variable basis.
Section 27-32-6. - Prerequisites to delivery of contract — Qualification of company.
Section 27-32-7. - Regulation of issuance and sale of agreements — Rules and regulations.
Section 27-32-8. - Application of insurance laws to separate accounts.