PARRIS N. GLENDENING, Governor

Ch. 36

(I)      THE COMMISSIONERS RESERVE VALUATION METHODS
SPECIFIED IN §§ 5-307, 5-308, AND 5-311 OF THIS SUBTITLE;

(II)     THE APPLICABLE TABLES IN SUBSECTIONS (B) THROUGH (H) OF
THIS SECTION; AND

(III)    EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION,
INTEREST AT 3.5% PER YEAR.

(2) FOR A POLICY OR CONTRACT ISSUED ON OR AFTER JULY 1, 1978
OTHER THAN AN ANNUITY CONTRACT OR PURE ENDOWMENT CONTRACT, THE
INTEREST RATE IS:

(I)      4% PER YEAR IF THE POLICY OR CONTRACT WAS ISSUED ANY
TIME FROM JULY 1, 1978 TO JUNE 30, 1980, BOTH INCLUSIVE; OR

(II)     4.5% PER YEAR IF THE POLICY OR CONTRACT WAS ISSUED ON
OR AFTER JULY 1, 1980.

(B) APPLICABLE TABLES — ORDINARY LIFE INSURANCE ISSUED ON
STANDARD BASIS.

FOR AN ORDINARY POLICY OF LIFE INSURANCE ISSUED ON THE STANDARD
BASIS, EXCLUDING ANY DISABILITY AND ACCIDENTAL DEATH BENEFITS IN THE
POLICY, THE APPLICABLE TABLE FOR THE MINIMUM STANDARD FOR THE
VALUATION OF THE POLICY IS:

(1)      IF THE POLICY WAS ISSUED BEFORE THE OPERATIVE DATE OF §
15-308(C) [48A § 414(J)] OF THIS ARTICLE, THE COMMISSIONERS 1941 STANDARD
ORDINARY MORTALITY TABLE;

(2)      IF THE POLICY WAS ISSUED ON OR AFTER THE OPERATIVE DATE OF
§ 15-308(C) [48A § 414(J)] OF THIS ARTICLE BUT BEFORE THE OPERATIVE DATE OF §
15-309 [48A § 414(K-1)] OF THIS ARTICLE:

(I)      THE COMMISSIONERS 1958 STANDARD ORDINARY MORTALITY
TABLE; OR

(II)     AT THE ELECTION OF THE INSURER, THE COMMISSIONERS 1958
STANDARD ORDINARY MORTALITY TABLE, CALCULATING ALL MODIFIED NET
PREMIUMS AND PRESENT VALUES REFERRED TO IN THIS SUBTITLE FOR ANY
CATEGORY OF POLICIES ISSUED ON FEMALE RISKS ACCORDING TO AN AGE NOT
MORE THAN 6 YEARS YOUNGER THAN THE ACTUAL AGE OF THE INSURED; AND

(3)      IF THE POLICY WAS ISSUED ON OR AFTER THE OPERATIVE DATE OF
§ 15-309 [48A § 414(K-1)] OF THIS ARTICLE:

(I) THE COMMISSIONERS 1980 STANDARD ORDINARY MORTALITY
TABLE OR, AT THE ELECTION OF THE INSURER FOR ANY ONE OR MORE SPECIFIED
PLANS OF LIFE INSURANCE, THE COMMISSIONERS 1980 STANDARD ORDINARY
MORTALITY TABLE WITH TEN-YEAR SELECT MORTALITY FACTORS; OR

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