58-15-63. Participating annuity or endowment contract--Ascertainment and apportionment of divisible surplus.
36 words·~1 min read·
/sd/title-58/chapter-58-15/58-15-63·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If an annuity or pure endowment contract, other than reversionary, survivorship, or group annuity, is participating, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the contract.