Ch. 36

1995 LAWS OF MARYLAND

(I)       6% PER YEAR FOR A SINGLE PREMIUM IMMEDIATE ANNUITY
CONTRACT; AND

(II)     4% PER YEAR FOR ANY OTHER INDIVIDUAL ANNUITY
CONTRACT OR PURE ENDOWMENT CONTRACT.

(C)     SAME — INDIVIDUAL SINGLE PREMIUM IMMEDIATE ANNUITY
CONTRACTS ISSUED ON OR AFTER JULY 1, 1980.

FOR AN. INDIVIDUAL SINGLE PREMIUM IMMEDIATE ANNUITY CONTRACT
ISSUED ON OR AFTER JULY 1, 1980, THE APPLICABLE TABLE. AND INTEREST RATE
FOR THE MINIMUM STANDARD FOR THE VALUATION OF THE CONTRACT ARE:

(1)      (I) THE 1971 INDIVIDUAL ANNUITY MORTALITY TABLE;

(II)     AN INDIVIDUAL ANNUITY MORTALITY TABLE ADOPTED
AFTER 1980 BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND
APPROVED BY REGULATION OF THE COMMISSIONER FOR USE IN DETERMINING THE
MINIMUM STANDARD OF VALUATION FOR THE CONTRACT; OR

(III)    A MODIFICATION OF A TABLE SPECIFIED BY SUBITEM (I) OR (II)
OF THIS ITEM APPROVED BY THE COMMISSIONER; AND

(2)      INTEREST AT 7.5% PER YEAR.

(D)     SAME — OTHER INDIVIDUAL CONTRACTS ISSUED ON OR AFTER JULY 1,
1980.

FOR AN INDIVIDUAL ANNUITY CONTRACT OR PURE ENDOWMENT CONTRACT
ISSUED ON OR AFTER JULY 1, 1980, OTHER THAN A SINGLE PREMIUM IMMEDIATE
ANNUITY CONTRACT, THE APPLICABLE TABLE AND INTEREST RATE. FOR THE
MINIMUM STANDARD FOR THE VALUATION OF THE CONTRACT ARE:

(1)      (I) THE 1971 INDIVIDUAL ANNUITY MORTALITY TABLE;

(II)     AN INDIVIDUAL ANNUITY MORTALITY TABLE ADOPTED
AFTER 1980 BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND
APPROVED BY REGULATION OF THE COMMISSIONER FOR USE IN DETERMINING THE
MINIMUM STANDARD OF VALUATION FOR THE CONTRACT; OR

(III)    A MODIFICATION OF A TABLE SPECIFIED IN SUBITEM (I) OR (II)
OF THIS ITEM APPROVED BY THE COMMISSIONER; AND

(2)      INTEREST AT:

(I)       5.5% PER YEAR FOR A SINGLE PREMIUM DEFERRED ANNUITY
CONTRACT OR PURE ENDOWMENT CONTRACT; AND

(II)     4.5% PER YEAR FOR ANY OTHER INDIVIDUAL ANNUITY
CONTRACT OR PURE ENDOWMENT CONTRACT.

(E)     SAME — ANNUITIES AND PURE ENDOWMENTS PURCHASED ON OR
BEFORE JUNE 30, 1980 UNDER GROUP ANNUITY CONTRACTS OR PURE ENDOWMENT
CONTRACTS.

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