Maine Statutes
§ 24-A §2523 — Reinstatement -- annuities
Maine § 24-A §2523
This text of Maine § 24-A §2523 (Reinstatement -- annuities) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Me. Rev. Stat. tit. 24-A, § 24-A §2523 (2026).
Text
In an annuity or pure endowment contract, other than a reversionary or group annuity, there shall be a provision that the contract may be reinstated at any time within one year from the default in making stipulated payments to the insurer, unless the cash surrender value has been paid, but all overdue stipulated payments shall be paid with interest thereon at a rate to be specified in the contract but not exceeding 6% per annum payable annually and the payment or reinstatement of any other indebtedness to the insurer upon the contract with interest at the policy loan interest rate, and in cases where applicable the insurer may also include a requirement of evidence of insurability satisfactory to the insurer.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
PL 1969, c. 132, §1 (NEW). PL 1981, c. 188, §3 (AMD).
Nearby Sections
15
§ 24 §1
Insurance contract§ 24 §1002
Formation of corporation; guaranty fund; authority to write business; liability of policyholder§ 24 §1004
Assigned risks; reinsurance§ 24 §1008
Calls for payments; proceeds§ 24 §1012
Annual report; examinations§ 24 §1013
Filing fees§ 24 §1051
Automobile physical damage insuranceCite This Page — Counsel Stack
Bluebook (online)
Maine § 24-A §2523, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/24-A%20%C2%A72523.