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Marginalia
Code · California · Probate Code

§ 1446

57 words·~1 min read·/ca/probate-code/1446

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“Single-premium deferred annuity” means an annuity offered by an admitted life insurer for the payment of a one-time lump-sum premium and for which the insurer neither assesses any initial charges or administrative fees against the premium paid nor exacts or assesses any penalty for withdrawal of any funds by the annuitant after a period of five years.
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