§ 5-312
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/md/insurance/5-312A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–312.
(a)This section applies to:
(1)a plan of life insurance that provides for future premiums to be determined by the insurer based on estimates of future experience; and
(2)a plan of life insurance or annuity that is of a nature that precludes determining the minimum reserves by the methods described in §§ 5-307, 5-308, and 5-311 of this subtitle.
(b)In accordance with regulations adopted by the Commissioner, the reserves that are held under a plan described in subsection
(a)of this section shall:
(1)be appropriate in relation to the benefits and pattern of premiums for that plan; and
(2)be computed by a method that is consistent with the principles of this subtitle.