PARRIS N. GLENDENING, Governor

Ch. 36

In subsection (c)(1) and (2) of this section, the former references to
"change[s]" and "addition[s]" are deleted as included in the general
references to "amendment[s]".

In subsection (c)(1)(ii) of this section, the reference to the agreement
"between the society and the member" is added for clarity.

Also in subsection (c)(1)(ii) of this section, the former reference to a change
that "control[s]" the agreement is deleted in light of the reference to a change
that "govern[s]" the agreement.

Also in subsection (c)(1)(ii) of this section, the former phrase "in all respects
the same" is deleted as surplusage.

Defined term: "Society" § 8-401

8-433. LIFE BENEFIT CERTIFICATES.

(A)     FILING AND APPROVAL OF FORMS REQUIRED.

(1)      AFTER DECEMBER 31, 1963, A LIFE BENEFIT CERTIFICATE MAY NOT
BE DELIVERED OR ISSUED FOR DELIVERY IN THE STATE UNLESS THE FORM HAS
BEEN:

(I)       FILED WITH THE COMMISSIONER; AND

(II)     APPROVED BY THE COMMISSIONER AS CONFORMING TO THE
REQUIREMENTS OF THIS SECTION AND NOT INCONSISTENT WITH OTHER
APPLICABLE PROVISIONS OF LAW.

(2)      UNLESS DISAPPROVED BY THE COMMISSIONER, A LIFE BENEFIT
CERTIFICATE IS DEEMED APPROVED 60 DAYS AFTER THE DATE THE FORM IS FILED
WITH THE COMMISSIONER.

(B)     TITLE REQUIRED.

EACH LIFE BENEFIT CERTIFICATE SHALL CONTAIN A TITLE ON THE FACE AND
FILING PAGE OF THE CERTIFICATE CLEARLY AND CORRECTLY DESCRIBING ITS
FORM.

(C)     STANDARD PROVISIONS.

UNLESS THE LIFE BENEFIT CERTIFICATE CONTAINS PROVISIONS THAT ARE
MORE FAVORABLE TO THE MEMBER, EACH LIFE BENEFIT CERTIFICATE SHALL
CONTAIN IN SUBSTANCE EACH OF THE FOLLOWING STANDARD PROVISIONS:

(1) A STATEMENT OF:

(I)      THE AMOUNT OF RATES, PREMIUMS, OR OTHER REQUIRED
CONTRIBUTIONS, HOWEVER NAMED, THAT ARE PAYABLE BY THE INSURED UNDER
THE CERTIFICATE; AND

(II)     THE MEMBER'S SHARE OF A DEFICIENCY IF RESERVES ARE
IMPAIRED;

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