§ 3718. Annuity considerations
§ 3718. Annuity considerations Insurers shall be subject to taxation according to the provisions of Title 32; provided, however, that no tax shall be due or payable as to considerations received for annuity contracts. Payment by an insurer of the tax as in Title 32 required shall be in lieu of all taxes imposed by […]
§ 3718a. Charitable gift annuities
§ 3718a. Charitable gift annuities (a) Charitable gift annuity is not insurance. The issuance of a charitable gift annuity by a qualified charitable organization does not constitute engaging in the business of insurance in this State. (b) Not unfair or deceptive trade practice. The issuance of a charitable gift annuity does not constitute a violation […]
§ 3719. Valuation of bonds, etc
§ 3719. Valuation of bonds, etc Bonds or other evidences of debt having a fixed term and rate held by a life insurance company, assessment life association, or fraternal beneficiary association authorized to do business in this State, if amply secured and not in default as to principal and interest, shall be valued as follows: […]
§ 3711. Charitable life gifts
§ 3711. Charitable life gifts (a) A life insurance contract may be entered into in which a person paying the consideration for such insurance has no insurable interest in the life of the individual insured, provided that a charitable, benevolent, educational, or religious institution or its agency or any other organization that qualifies under Section […]
§ 3712. Payment discharges insurer
§ 3712. Payment discharges insurer Whenever the proceeds of or payments under a life or disability insurance policy or annuity contract heretofore or hereafter issued become payable in accordance with the terms of such policy or contract, or the exercise of any right or privilege thereunder, and the insurer makes payment thereof in accordance therewith […]
§ 3713. Assignment of insurance policies or annuity contracts
§ 3713. Assignment of insurance policies or annuity contracts (a) A policy of insurance or an annuity contract may be assignable or not assignable, as provided by its terms. Subject to its terms relating to assignability, any such policy or contract, whether heretofore or hereafter issued, under the terms of which the beneficiary may be […]
§ 3714. Life policy as separate property of married woman
§ 3714. Life policy as separate property of married woman Every policy of life insurance heretofore or hereafter made payable to or for the benefit of a married woman, or after its issue heretofore or hereafter assigned, transferred or in any way made payable to a married woman, or to any person in trust for […]
§ 3715. Forms for proof of loss to be furnished
§ 3715. Forms for proof of loss to be furnished An insurer shall furnish upon written request of any person claiming to have a loss under an insurance policy issued by such insurer, forms of proof of loss for completion by such person, but such insurer shall not, by reason of the requirement so to […]
§ 3716. Claims administration not waiver
§ 3716. Claims administration not waiver Without limitation of any right or defense of an insurer otherwise, none of the following acts by or on behalf of an insurer shall be deemed to constitute a waiver of any provision of a policy or of any defense of the insurer thereunder: (1) Acknowledgment of the receipt […]
§ 3717. Annuity contracts
§ 3717. Annuity contracts A company authorized to transact the business of life insurance may grant annuities. An annuity is a contract issued for a valuable consideration under which the obligations are assumed with respect to periodic payments for a specified term or terms or where the making or continuance of all or of some […]