Montana § 33-7-524 Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, And Other Options

Montana Statutes

§ 33-7-524 — Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, And Other Options

Montana § 33-7-524

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 7FRATERNAL BENEFIT SOCIETIES

Part 5Insurance Operations

This text of Montana § 33-7-524 (Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, And Other Options) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 33-7-524 (2026).

Text

33-7-524 . Nonforfeiture benefits, cash surrender values, certificate loans, and other options.

(1)For certificates issued prior to July 1, 1993, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted must comply with the provisions of law applicable immediately prior to July 1, 1992.

(2)For certificates issued on or after July 1, 1993, for which reserves are computed on the commissioner of insurance's 1941 standard ordinary mortality table, the commissioner's 1941 standard industrial mortality table, the commissioner's 1958 standard ordinary mortality table, the commissioner's 1980 standard mortality table, or any more recent table made applicable to life insurers, every paid-up nonforfeiture benefit and the amount of a

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33-7-524 . Nonforfeiture benefits, cash surrender values, certificate loans, and other options. (1) For certificates issued prior to July 1, 1993, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted must comply with the provisions of law applicable immediately prior to July 1, 1992.
(2) For certificates issued on or after July 1, 1993, for which reserves are computed on the commissioner of insurance's 1941 standard ordinary mortality table, the commissioner's 1941 standard industrial mortality table, the commissioner's 1958 standard ordinary mortality table, the commissioner's 1980 standard mortality table, or any more recent table made applicable to life insurers, every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted may not be less than the corresponding amount ascertained in accordance with the laws of this state applicable to life insurers issuing policies containing similar benefits based upon the tables.