HARRY HUGHES, Governor                                     2869

(2) (I) THE INSURED HAS ATTAINED, OR WOULD HAVE
ATTAINED IF HE WERE LIVING, THE LIMITING AGE UNDER THE MORTALITY
TABLE ON WHICH THE RESERVE IS BASED;

(II)  THE POLICY WAS IN FORCE AT THE TIME THE
INSURED ATTAINED, OR WOULD HAVE ATTAINED, THE LIMITING AGE
SPECIFIED IN SUBPARAGRAPH (I); AND

(III)  NEITHER THE INSURED NOR ANY OTHER PERSON
APPEARING TO HAVE AN INTEREST IN THE POLICY WITHIN THE PRECEDING
5 YEARS, ACCORDING TO THE RECORDS OF THE COMPANY, HAS ASSIGNED,
READJUSTED, OR PAID PREMIUMS ON THE POLICY, SUBJECTED THE POLICY
TO A LOAN, CORRESPONDED IN WRITING WITH THE COMPANY CONCERNING
THE POLICY, OR OTHERWISE INDICATED AN INTEREST AS EVIDENCED BY A
MEMORANDUM OR OTHER RECORD ON FILE PREPARED BY AN EMPLOYEE OF THE
COMPANY.

(D) FOR PURPOSES OF THIS SUBTITLE, THE APPLICATION OF AN
AUTOMATIC PREMIUM LOAN PROVISION OR OTHER NONFORFEITURE PROVISION
CONTAINED IN AN INSURANCE POLICY DOES NOT PREVENT A POLICY FROM
BEING MATURED OR TERMINATED UNDER SUBSECTION (A) IF THE INSURED
HAS DIED OR THE INSURED OR THE BENEFICIARY OF THE POLICY
OTHERWISE HAS BECOME ENTITLED TO THE PROCEEDS THEREOF BEFORE THE
DEPLETION OF THE CASH SURRENDER VALUE OF A POLICY BY THE
APPLICATION OF THOSE PROVISIONS.

(E) IF THE LAWS OF THIS STATE OR THE TERMS OF THE LIFE
INSURANCE POLICY REQUIRE THE COMPANY TO GIVE NOTICE TO THE
INSURED OR OWNER THAT AN AUTOMATIC PREMIUM LOANS PROVISION OR
OTHER NONFORFEITURE PROVISION HAS BEEN EXERCISED AND THE NOTICE,
GIVEN TO AN INSURED OR OWNER WHOSE LAST KNOWN ADDRESS ACCORDING
TO THE RECORDS OF THE COMPANY IS IN THIS STATE, IS UNDELIVERABLE,
THE COMPANY SHALL MAKE A REASONABLE SEARCH TO ASCERTAIN THE
POLICYHOLDER'S CORRECT ADDRESS TO WHICH THE NOTICE MUST BE
MAILED.

(D) (1) UNCLAIMED FUNDS, AS DEFINED IN PARAGRAPH (2) OF
THIS SUBSECTION, HELD BY A FIRE, CASUALTY, OR SURETY INSURANCE
CORPORATION, SHALL BE PRESUMED ABANDONED IF THE LAST KNOWN
ADDRESS OF THE PERSON ENTITLED TO THE FUNDS, ACCORDING TO THE
RECORDS OF THE CORPORATION, IS IN THIS STATE. IF A PERSON OTHER
THAN THE INSURED, THE PRINCIPAL, OR THE CLAIMANT IS ENTITLED TO
THE FUNDS AND THE ADDRESS OF THE PERSON IS NOT KNOWN TO THE
CORPORATION OR IF IT IS NOT DEFINITE AND CERTAIN FROM THE RECORDS
OF THE CORPORATION WHICH PERSON IS ENTITLED TO THE FUNDS, IT IS
PRESUMED THAT THE LAST KNOWN ADDRESS OF THE PERSON ENTITLED TO
THE FUNDS IS THE SAME AS THE LAST KNOWN ADDRESS OF THE INSURED,
THE PRINCIPAL, OR THE CLAIMANT ACCORDING TO THE RECORDS OF THE
CORPORATION.

(2) "UNCLAIMED FUNDS," AS USED IN THIS SUBSECTION,
MEANS ALL MONEY HELD BY ANY FIRE, CASUALTY, OR SURETY INSURANCE
CORPORATION UNCLAIMED AND UNPAID FOR MORE THAN 5 YEARS AFTER THE
MONEY BECOMES DUE AND PAYABLE, AS ESTABLISHED FROM THE RECORDS OF
THE CORPORATION, EITHER TO AN INSURED, A PRINCIPAL, OR A CLAIMANT