South Carolina Statutes
§ 38-69-250 — Paid-up annuity benefits; present value.
Any paid-up annuity benefit available under a contract must be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. The present value must be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
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South Carolina § 38-69-250 (Paid-up annuity benefits; present value.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-8-50 [1978 Act No. 517 SECTION 5] recodified as SECTION 38-69-250 by 1987 Act No. 155, SECTION 1.
Nearby Sections
15
§ 38-69-210
Title.§ 38-69-220
Exceptions from operation of article.§ 38-69-230
Provisions required in contracts; provision for termination for nonpayment of consideration.§ 38-69-250
Paid-up annuity benefits; present value.§ 38-69-260
Cash surrender benefits.§ 38-69-280
Maturity date under certain contracts.§ 38-69-290
Statements required in certain contracts.