4214 – Industrial Accident and Industrial Health Insurance.
§ 4214. Industrial accident and industrial health insurance. (a) In this chapter: (1) “Industrial accident insurance” means that form of accident insurance wherein the premium is payable in the manner prescribed in subsection (a) of section four thousand two hundred thirteen of this article, covering such risks as death, dismemberment, loss of eyesight, or loss […]
4215 – Contracts With Industrial Life Insurance Agents; Prohibitions.
§ 4215. Contracts with industrial life insurance agents; prohibitions. (a) No life insurance company licensed to do business in this state shall make any contract with any agent, superintendent or other representative employed in this state which provides: (1) That the company shall charge against the past, present or future compensation of the agent, superintendent […]
4216 – Group Life Insurance; Premium Requirements; Notice of Conversion; Filing of Compensation.
§ 4216. Group life insurance; premium requirements; notice of conversion; filing of compensation. (a) (1) In this chapter: (A) “Group life insurance” means that form of life insurance covering any one of the groups specified in subsection (b) hereof, which is written under a policy issued to the policyholder as hereinafter defined, and which in […]
4217 – Valuation of Insurance Policies and Contracts.
§ 4217. Valuation of insurance policies and contracts. (a) (1) The superintendent shall annually value, or cause to be valued, the reserve liabilities (hereinafter called reserves) for all outstanding insurance policies and contracts of every life insurance company doing business in this state, except that, in the case of an alien company, such valuation shall […]
4218 – When Actual Premium Is Less Than Net Premium; Minimum Reserve.
§ 4218. When actual premium is less than net premium; minimum reserve. (a) (1) When the actual premium or consideration charged for life insurance under any life insurance policy, issued by any life insurance company doing business in this state, is less than the modified net premium calculated on the basis of the commissioners reserve […]
4219 – Limitation on Accumulation of Surplus of Life Insurance Companies.
§ 4219. Limitation on accumulation of surplus of life insurance companies. (a) (1) Any domestic mutual life insurance company may maintain a surplus, above all of its reserves and liabilities required or specifically permitted by this chapter, not exceeding the greatest of (A) eight hundred fifty thousand dollars, or (B) ten percent of its policy […]
4220 – Life Insurance and Annuities; Nonforfeiture Benefits Under Defaulted Contracts.
§ 4220. Life insurance and annuities; nonforfeiture benefits under defaulted contracts. (a) (1) This section shall apply only to those policies and contracts issued prior to the operative date specified in section four thousand two hundred twenty-one of this article. (2) Except as otherwise provided in this chapter, in the event of default in payment […]
4221 – Standard Nonforfeiture Law.
§ 4221. Standard nonforfeiture law. (a) In the case of policies issued on or after the operative date of this section as defined in subsection (p) hereof, no policy of life insurance, except as stated in subsection (o) hereof, shall be delivered or issued for delivery in this state unless it shall contain in substance […]
4208 – Financial and Additional Requirements for the Organization of Mutual Life, Accident and Health, and Legal Services Insurance Companies.
§ 4208. Financial and additional requirements for the organization of mutual life, accident and health, and legal services insurance companies. (a) (1) A mutual insurance company may be incorporated and licensed exclusively to do one or more of the kinds of insurance business specified in paragraphs one, two, three, twenty-nine and thirty-one of subsection (a) […]
4209 – Mutual Life Insurance Companies, Mutual Accident and Health Insurance Companies; Assessments.
§ 4209. Mutual life insurance companies, mutual accident and health insurance companies; assessments. (a) (1) No domestic mutual life insurance company shall issue any policy of life or accident and health insurance or any annuity contract providing for the payment of any assessment by any policyholder or member in addition to the regular premium or […]