Colorado Statutes
§ 10-7-304 — Computation of nonforfeiture benefit
Any paid-up nonforfeiture
benefit available under the policy in the event of default in a premium payment due
on any policy anniversary shall be such that its present value as of such anniversary
shall be at least equal to the cash surrender value then provided for by the policy
or, if none is provided for, that cash surrender value which would have been
required by this part 3 in the absence of the condition that premiums shall be paid
for at least a specified period.
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Legislative History
Source: L. 61: p. 462, � 4. CRS 53: � 72-20-4. C.R.S. 1963: � 72-19-4.
Nearby Sections
15
§ 10-1-101
Legislative declaration§ 10-1-102
Definitions§ 10-1-105
Actuary§ 10-1-107
Personal fees prohibited§ 10-1-109
Rules of commissioner§ 10-1-111
Invoking aid of courts§ 10-1-113
No seal required on policies§ 10-1-114
Sale of premium notes prohibited§ 10-1-115
Penalty§ 10-1-116
Defamation of other companies - penalty§ 10-1-117
Company unauthorized in other states