3358

LAWS OF MARYLAND

Ch. 553

(ii) For individual single premium
immediate annuity contracts issued on or after July 1, 1980,
excluding any disability and accidental death benefits in
such contracts, — the 1971 Individual Annuity Mortality
Table OR ANY INDIVIDUAL ANNUITY MORTALITY TABLE, ADOPTED
AFTER 1980 BY THE NATIONAL ASSOCIATION OF INSURANCE
COMMISSIONERS AND APPROVED BY REGULATION PROMULGATED BY THE
COMMISSIONER FOR USE IN DETERMINING THE MINIMUM STANDARD OF
VALUATION FOR SUCH CONTRACTS, or any modification of [this
table] THESE TABLES approved by the Commissioner, and 7 1/2
percent interest.

(iii) For individual annuity and pure
endowment contracts issued on or after July 1, 1980, other
than single premium immediate annuity contracts, excluding
any disability and accidental death benefits in such
contracts, -- the 1971 Individual Annuity Mortality Table OR
ANY INDIVIDUAL ANNUITY MORTALITY TABLE, ADOPTED AFTER 1980
BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND
APPROVED BY REGULATION PROMULGATED BY THE COMMISSIONER FOR
USE IN DETERMINING THE MINIMUM STANDARD OF VALUATION FOR
SUCH CONTRACTS, or any modification of [this table] THESE
TABLES approved by the Commissioner, and 5 1/2 percent
interest for single premium deferred annuity and pure
endowment contracts and 4 1/2 percent interest for all other
such individual annuity and pure endowment contracts.

(iv) For all annuities and pure endowments
purchased prior to July 1, 1980 under group annuity and pure
endowment contracts, excluding any disability and accidental
death benefits in such contracts -- the 1971 Group Annuity
Mortality Table, or any modification of this table approved
by the Commissioner, and 6 percent interest.

(v) For all annuities and pure endowments
purchased on or after July 1, 1980 under group annuity and
pure endowment contracts, excluding any disability and
accidental death benefits in such contracts, -- the 1971
Group Annuity Mortality Table OR ANY GROUP ANNUITY MORTALITY
TABLE, ADOPTED AFTER 1980 BY THE NATIONAL ASSOCIATION OF
INSURANCE COMMISSIONERS AND APPROVED BY REGULATION
PROMULGATED BY THE COMMISSIONER FOR USE IN DETERMINING THE
MINIMUM STANDARD OF VALUATION FOR SUCH ANNUITIES AND PURE
ENDOWMENTS, or any modification of [this table] THESE TABLES
approved by the Commissioner, and 7 1/2 percent interest.

After July 1, 1973, any insurer may file with the
Commissioner a written notice of its election to comply with
the provisions of this paragraph after a specified date
before January 1, 1979, which shall be the operative date of
this paragraph for such insurer, provided that an insurer
may elect a different operative date for individual annuity
and pure endowment contracts from that elected for group
annuity and pure endowment contracts. If an insurer makes