Md. Code, Ins. § 5-303 : INSURANCE — ASSETS, LIABILITIES, RESERVES, AND INVESTMENTS OF INSURERS — STANDARD VALUATION LAW —303 - Policies and contracts issued on or after operative date of Standard Nonforfeiture Law - Scope
(a) Except as otherwise provided in §§
5-305 and
5-306 of this subtitle for group annuity contracts and pure endowment contracts issued before the operative date of the Maryland Standard Nonforfeiture Law for Life Insurance:
(1) §§
5-304 through
5-312 of this subtitle apply only to policies and contracts, as appropriate, issued on or after that operative date and before the operative date of the valuation manual; and
(2) §§
5-313 and
5-314 of this subtitle do not apply to the policies and contracts.
(b) Sections
5-313 and
5-314 of this subtitle apply to all life insurance policies, accident and health insurance contracts, and deposit-type contracts issued by a company on or after the operative date of the valuation manual.
Md. Code, IN § 5-303
Amended by 2015 Md. Laws, Ch. 367,Sec. 2, eff. 10/1/2015.