Ch. 6

LAWS OF MARYLAND

Error: Stylistic errors and punctuation omitted in
Article 48A, § 306(b).

Occurred: All errors but the first stylistic error
occurred in Ch. 553, Acts of 1963; the first stylistic
error occurred in Ch. 11, Acts of 1987.

410.

(b) A policy which contains any exclusion or restriction
pursuant to subsection (a) of this section shall also provide
that in the event of death under the circumstances to which any
such exclusion or restriction is applicable, the insurer will pay
a determinable amount which in no event shall be less than the
reserve in accordance with the [commissioners] COMMISSIONER'S
reserve valuation method upon the basis of the mortality table
and interest rate specified in the policy for the calculation of
nonforfeiture benefits (or if the policy provides for no such
benefits, computed according to a mortality table and interest
rate determined by the insurer and specified in the policy),
provided such table and interest rate are acceptable as a
standard for the valuation of such policy in accordance with § 83
with adjustment for indebtedness or dividend credit.

DRAFTER'S NOTE:

Error: Punctuation omitted and capitalization error
in Article 48A, § 410(b).

Occurred: Ch. 553, Acts of 1963.

436H.

(f) If a group policy of credit life insurance, credit
health insurance, or involuntary unemployment benefit [insurance]
INSURANCE:

(1)  Has been delivered in this State before the
effective date of this subtitle[,]; or

(2)  Has been or is delivered in another state before
or after the effective date of this subtitle, the insurer shall
be required to file only the group certificate and notice of
proposed insurance, delivered or issued for delivery in this
State as specified in [subsections (b) and (d) of § 436G of this
article] § 436G(B) AND (D) OF THIS SUBTITLE and such forms shall
be approved by the Commissioner if they conform with the
requirements specified in said subsections and if the schedules
of premium rates applicable to the insurance evidenced by the
certificate or notice are not in excess of the insurer's
schedules of premium rates filed with the Commissioner; provided,
however, the premium rate in effect on existing group policies

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