Arizona § 20-879 Nonforfeiture benefits, cash surrender value, certificate loans and other options

Arizona Statutes

§ 20-879 — Nonforfeiture benefits, cash surrender value, certificate loans and other options

Arizona § 20-879

Title 20Arizona Revised Statutes

Ch. 4PARTICULAR TYPES OF INSURERS

Art. 4Fraternal Benefit Societies

This text of Arizona § 20-879 (Nonforfeiture benefits, cash surrender value, certificate loans and other options) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 20-879 (2026).

Text

A.For certificates that are issued before January 1, 1996, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall comply with the applicable provisions of law that were in effect before January 1, 1995.

B.For certificates that are issued on or after January 1, 1996 and for which reserves are computed pursuant to the commissioner's 1941 standard ordinary mortality table, the commissioner's 1941 standard industrial table, the commissioner's 1958 standard ordinary mortality table, the commissioner's 1980 standard mortality table or any other more recent table that is applicable to life insurers, every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall not be le

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A. For certificates that are issued before January 1, 1996, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall comply with the applicable provisions of law that were in effect before January 1, 1995.

B. For certificates that are issued on or after January 1, 1996 and for which reserves are computed pursuant to the commissioner's 1941 standard ordinary mortality table, the commissioner's 1941 standard industrial table, the commissioner's 1958 standard ordinary mortality table, the commissioner's 1980 standard mortality table or any other more recent table that is applicable to life insurers, every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall not be less than the corresponding amount that is ascertained and based on those tables for life insurance policies containing like benefits.