§ 26-29-220 — Nonforfeiture benefits; cash surrender values; certificate loans and other options

Wyoming § 26-29-220

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 29: FRATERNAL BENEFIT SOCIETIES

Text

(a) For certificates issued prior to one (1) year after
the effective date of this act, 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
provisions of law applicable on December 31, 1989.
(b) For certificates issued on or after one (1) year from
the effective date of this act for which reserves are computed
on the Commissioner's 1941 Standard Ordinary Mortality Table,
the Commissioner's 1941 Standard Industrial Table or the
Commissioner's 1958 Standard Ordinary Mortality Table, or 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 shall not be less than the
corresponding amount ascertained in accordance with the laws of
this state applicable to life insurers issuing policies
containing like benefits based upon such tables.