PARRIS N. GLENDENING, Governor

Ch. 36

2. DETERMINED FOR EACH CALENDAR YEAR SINCE 1980
REGARDLESS OF WHEN § 15-309 OF THIS ARTICLE [ART. 48A, § 414(K-1)] BECAME
OPERATIVE.

(E) WEIGHTING FACTORS.

(1) (I) IN THIS SUBSECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(II)     "PLAN TYPE A" MEANS A PLAN TYPE UNDER WHICH:

1.        AT ANY TIME THE POLICYHOLDER MAY WITHDRAW
FUNDS ONLY:

A.       WITH AN ADJUSTMENT TO REFLECT CHANGES IN
INTEREST RATES OR ASSET VALUES SINCE RECEIPT OF THE FUNDS BY THE INSURER;

B.       WITHOUT THE ADJUSTMENT REQUIRED BY SUBITEM A
OF THIS ITEM BUT IN INSTALLMENTS OVER 5 YEARS OR MORE; OR

C.       AS AN IMMEDIATE LIFE ANNUITY; OR

2.        NO WITHDRAWAL IS ALLOWED AT ANY TIME.

(III)    "PLAN TYPE B" MEANS A PLAN TYPE UNDER WHICH:

1.        BEFORE THE EXPIRATION OF THE INTEREST RATE
GUARANTEE:

A.       THE POLICYHOLDER MAY WITHDRAW FUNDS ONLY WITH
AN ADJUSTMENT TO REFLECT CHANGES IN INTEREST RATES OR ASSET VALUES
SINCE RECEIPT OF THE FUNDS BY THE INSURER;

B.       THE POLICYHOLDER MAY WITHDRAW FUNDS WITHOUT
THE ADJUSTMENT REQUIRED BY SUBITEM A OF THIS ITEM BUT IN INSTALLMENTS
OVER 5 YEARS OR MORE; OR

C.       NO WITHDRAWAL OF FUNDS IS ALLOWED; AND

2.        AT THE END OF INTEREST RATE GUARANTEE, THE
POLICYHOLDER MAY WITHDRAW FUNDS WITHOUT THE ADJUSTMENT REQUIRED BY
ITEM 1A OF THIS SUBPARAGRAPH IN A SINGLE SUM OR INSTALLMENTS OVER LESS
THAN 5 YEARS.

(IV)    "PLAN TYPE C" MEANS A PLAN TYPE UNDER WHICH A
POLICYHOLDER MAY WITHDRAW FUNDS BEFORE THE EXPIRATION OF THE
INTEREST RATE GUARANTEE IN A SINGLE SUM OR IN INSTALLMENTS OVER LESS
THAN 5 YEARS:

1. WITHOUT ADJUSTMENT TO REFLECT CHANGES IN
INTEREST RATES OR ASSET VALUES SINCE RECEIPT OF THE FUNDS BY THE INSURER;
OR

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