1372

LAWS OF MARYLAND

[Ch. 27?

CHAPTER 273

(Senate Bill 62)

AN ACT concerning

Sexual Discrimination — Life Insurance

FOR the purpose of ([eliminating any reference to]]
requiring that a distinction between male and female
risks in calculating net premiums and present values

of life insurance policies reflect__actuarial

differences only, if approved by the Insurance
Commissioner.

BY repealing and re—enacting, with amendments,

Article 48A — Insurance Code

Section 83(3), 339(g) and 414 (i) and (j)

Annotated Code of Maryland

(1972 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 83(3), 339(g) and 414(i) and (j)
of Article 48A — Insurance Code, of the Annotated Code of
Maryland (1972 Replacement Volume and 1974 Supplement) be
and they are hereby repealed and re—enacted, with
amendments, to read as follows:

Article 48A — Insurance Code

83.

(3) This subsection shall apply to only those
policies and contracts issued on or after the operative
date of § 414 (the Standard Nonforfeiture Law), except as
otherwise provided in paragraph (a—2) of this subsection
for group annuity and pure endowment contracts issued
prior to such operative date.

(a—1) Except as otherwise provided in
paragraph (a—2) of this subsection, the minimum standard
for the valuation of all such policies and contracts
shall be the Commissioners reserve valuation method
defined in paragraph (h), three and one-half percent (3
1/2%) interest, and the following tables:

(i) For all ordinary policies of life
insurance issued on the standard basis, excluding any
disability and accidental death benefits in such
policies—-the Commissioners 1941 Standard Ordinary
Mortality Table for such policies issued prior to the