MARVIN MANDEL, Governor

1377

ACTUARIAL EXPECTANCIES AND SHALL BE SUBJECT TO APPROVAL
BY THE COMMISSIONER]] and the rate of interest, not
exceeding three and one—half per cent (3 1/2%) per annum,
specified in the policy for calculating cash surrender
values and paid—up nonforfeiture benefits[[, provided
that for any category of ordinary insurance issued on
female risks, adjusted premiums and present values may be
calculated according to an age not more than three years
younger than the actual age of the insured]] AND ANY

DIFFERENTIAL BASED ON SEX SHALL REFLECT ACTUARIAL

EXPECTANCIES AND SHALL BE SUBJECT TO APPROVAL BY THE
COMMISSIONER. Provided, however, that in calculating the
present value of any paid—up term insurance with
accompanying pure endowment, if any, offered as a
nonforfeiture benefit, the rates of mortality assumed may
be not more than those shown in the Commissioners 1958
Extended Term Insurance Table. Provided, further, that
for insurance issued on a substandard basis, the
calculation erf any such adjusted premiums and present
values may be based on such other table of mortality as
may be specified by the insurer and approved by the
Commissioner.

After June 1, 1959, any insurer may file with the
Commissioner a written notice of its election to comply
with the provisions of this subsection after a specified
date before January 1, 1966. After the filing of such
notice, then upon such specified date (which shall be the
operative date of this subsection for such insurer) , this
subsection shall become operative with respect to the
ordinary policies thereafter issued by such insurer. If
an insurer makes no such election, the operative date of
this subsection for such insurer shall be January 1,
1966.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 22, 1975.

CHAPTER 274

(Senate Bill 64)

AN ACT concerning

[[Sexual Discrimination]] Allegany County —
Alcoholic Beverage Licensees

FOR the purpose of eliminating in Allegany County [[the