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+ADw-title+AD4-Archives of Maryland, Volume 0742, Page 3359 - Session Laws, 1982+ADw-/title+AD4-
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Volume 742+ADw-/a+AD4-, Page 3359+ADw-/span+AD4AJg-nbsp+ADsAJg-nbsp+ADs-
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+ADw-p+AD4-HARRY HUGHES, Governor
+ADw-p+AD4-3359
+ADw-p+AD4-no such election, the operative date of this paragraph for+ADw-br+AD4-
such insurer shall be January 1, 1979.
+ADw-p+AD4-(A-3) (1) THE INTEREST RATES USED IN DETERMINING+ADw-br+AD4-
THE MINIMUM STANDARD FOR THE VALUATION OF:
+ADw-p+AD4-(I)+ACY-nbsp+ADs- ALL LIFE INSURANCE POLICIES ISSUED IN+ADw-br+AD4-
A PARTICULAR CALENDAR YEAR, ON OR AFTER THE OPERATIVE DATE+ADw-br+AD4-
OF SUBSECTION (K-l) OF SECTION +ACY-sect+ADs- 414+ADs-
+ADw-p+AD4-(II)+ACY-nbsp+ADs- ALL INDIVIDUAL ANNUITY AND PURE+ADw-br+AD4-
ENDOWMENT CONTRACTS ISSUED IN A PARTICULAR CALENDAR YEAR ON+ADw-br+AD4-
OR AFTER JANUARY 1, 1983+ADs-
+ADw-p+AD4-(III)+ACY-nbsp+ADs- ALL ANNUITIES AND PURE ENDOWMENTS+ADw-br+AD4-
PURCHASED IN A PARTICULAR CALENDAR YEAR ON OR AFTER JANUARY+ADw-br+AD4-
1, 1983 UNDER GROUP ANNUITY AND PURE ENDOWMENT CONTRACTS+ADsAPA-br+AD4-
AND
+ADw-p+AD4-(IV)+ACY-nbsp+ADs- THE NET INCREASE, IF ANY, IN A+ADw-br+AD4-
PARTICULAR CALENDAR YEAR AFTER JANUARY 1, 1983, IN AMOUNTS+ADw-br+AD4-
HELD UNDER GUARANTEED INTEREST CONTRACTS SHALL BE THE+ADw-br+AD4-
CALENDAR YEAR STATUTORY VALUATION INTEREST RATES AS DEFINED+ADw-br+AD4-
IN +ADw-strike+AD4-THIS+ADw-/strike+AD4- PARAGRAPH (A-3).
+ADw-p+AD4-(2) THE CALENDAR YEAR STATUTORY VALUATION+ADw-br+AD4-
INTEREST RATES, (I BELOW), SHALL BE DETERMINED AS FOLLOWS+ADw-br+AD4-
AND THE RESULTS ROUNDED TO THE NEARER 1/4 PERCENT:
+ADw-p+AD4-(I) FOR LIFE INSURANCE,
+ADw-p+AD4-I +AD0-.03 -+- PLUS W(R1-.03) -+- PLUS W(R2-.09)+ADs-
+ADw-p+AD4-2
+ADw-p+AD4-(II)+ACY-nbsp+ADs- FOR SINGLE PREMIUM IMMEDIATE+ADw-br+AD4-
ANNUITIES AND FOR ANNUITY BENEFITS INVOLVING LIFE+ADw-br+AD4-
CONTINGENCIES ARISING FROM OTHER ANNUITIES WITH CASH+ADw-br+AD4-
SETTLEMENT OPTIONS AND FROM GUARANTEED INTEREST CONTRACTS+ADw-br+AD4-
WITH CASH SETTLEMENT OPTIONS, I +AD0-.03 -+ADw-strike+AD4AKwA8-/strike+AD4- PLUS W(R-.03) WHERE+ADw-br+AD4-
R1 IS THE LESSER OF R AND .09, R2 IS THE GREATER OF R AND
+ADw-p+AD4-.09, R IS THE REFERENCE INTEREST RATE DEFINED IN +ADw-strike+AD4-THIS+ADw-/strike+AD4APA-br+AD4-
PARAGRAPH (A-3), AND W IS THE WEIGHTING FACTOR DEFINED IN+ADw-br+AD4-
+ADw-strike+AD4-THIS+ADw-/strike+AD4- PARAGRAPH (A-3)+ADs-
+ADw-p+AD4-(III)+ACY-nbsp+ADs- FOR OTHER ANNUITIES WITH CASH+ADw-br+AD4-
SETTLEMENT OPTIONS AND GUARANTEED INTEREST CONTRACTS WITH+ADw-br+AD4-
CASH SETTLEMENT OPTIONS, VALUED ON AN ISSUE YEAR BASIS,+ADw-br+AD4-
EXCEPT AS SET OUT IN (II) ABOVE, THE FORMULA FOR LIFE+ADw-br+AD4-
INSURANCE SET OUT IN (I) ABOVE SHALL APPLY TO ANNUITIES AND+ADw-br+AD4-
GUARANTEED INTEREST CONTRACTS WITH GUARANTEE DURATIONS IN+ADw-br+AD4-
EXCESS OF 10 YEARS AND THE FORMULA FOR SINGLE PREMIUM+ADw-br+AD4-
IMMEDIATE ANNUITIES SET OUT IN (II) ABOVE SHALL APPLY TO+ADw-br+AD4-
ANNUITIES AND GUARANTEED INTEREST CONTRACTS WITH GUARANTEE+ADw-br+AD4-
DURATION OF 10 YEARS OR LESS+ADs-
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Volume 742+ADw-/a+AD4-, Page 3359+ADw-/span+AD4AJg-nbsp+ADsAJg-nbsp+ADs-
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