4228 – Life Insurance and Annuity Business; Limitations of Expenses.
§ 4228. Life insurance and annuity business; limitations of expenses. (a) The provisions of this section shall apply to all domestic life insurance companies and to all foreign and alien life insurance companies doing business in this state, but not the alien branches of such companies or such companies’ subsidiaries not licensed in this state […]
4230 – Salaries and Pensions to Officers and Employees.
§ 4230. Salaries and pensions to officers and employees. (a) No domestic life insurance company shall pay any salary, compensation or emolument in any amount to any officer, deemed by a committee or committees of the board to be a principal officer pursuant to subsection (b) of section one thousand two hundred two of this […]
4231 – Policyholder’s Participation in Surplus of Life Insurance Companies.
§ 4231. Policyholder’s participation in surplus of life insurance companies. (a) (1) Except as herein otherwise provided, every domestic life insurance company shall ascertain and distribute annually, and not otherwise, the proportion of any surplus accruing upon every participating insurance policy and annuity or pure endowment contract entitled as hereinafter provided to share therein, issued […]
4232 – Amounts Credited on Certain Contracts or Life Insurance Policies.
§ 4232. Amounts credited on certain contracts or life insurance policies. (a) (1) If any contract subject to section four thousand two hundred twenty-three of this article, provides for additional amounts to be credited to the contract during any period in accordance with the provisions of paragraph one of subsection (g) of section four thousand […]
4233 – Annual Statements of Life Insurance Companies.
§ 4233. Annual statements of life insurance companies. (a) In addition to any other matter which may be required to be stated therein, either by law or by the superintendent pursuant to law, every annual statement of every life insurance company doing business in this state shall conform substantially to the form of statement adopted […]
4222 – Policy Loans.
§ 4222. Policy loans. The policy loan value referred to in paragraph eight of subsection (a) of section three thousand two hundred three of this chapter shall be the cash surrender value at the end of the current policy year calculated in accordance with the provisions of: (a) Subsection (a) of section four thousand two […]
4223 – Standard Nonforfeiture Law for Annuities.
§ 4223. Standard nonforfeiture law for annuities. (a) (1) In the case of contracts issued on or after the operative date of this section, no contract of annuity, except as provided in subsection (b) of this section, shall be delivered or issued for delivery in this state unless it contains in substance the following provisions, […]
4224 – Life, Accident and Health Insurance; Discrimination and Rebating; Prohibited Inducements and Interdependent Sales.
§ 4224. Life, accident and health insurance; discrimination and rebating; prohibited inducements and interdependent sales. (a) No life insurance company doing business in this state and no savings and insurance bank shall: (1) make or permit any unfair discrimination between individuals of the same class and of equal expectation of life, in the amount or […]
4212 – Stock Life Insurance Companies; Voting Power of Policyholders.
§ 4212. Stock life insurance companies; voting power of policyholders. (a) (1) Any domestic stock life insurance company may, by amendment to its charter, confer upon its policyholders, or upon such of its policyholders as shall have a specified amount of insurance on their lives, the right to vote for all or any less number […]
4213 – Industrial Life Insurance.
§ 4213. Industrial life insurance. (a) In this chapter “industrial life insurance” means that form of life insurance, either: (1) under which the premiums are payable weekly, or (2) under which the premiums are payable monthly or oftener, but less often than weekly, if the face amount of insurance provided in any such policy is […]