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- Alaska Statutes.
- Title 21. Insurance
- Chapter 84. Fraternal Benefit Societies
- Section 265. Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, and Other Options.
previous: Section 260
. The Contract. [Repealed, Sec. 36 Ch 96 SLA 1997].
next: Section 270
. Standard Provisions. [Repealed, Sec. 36 Ch 96 SLA 1997].
AS 21.84.265. Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, and Other Options.
- (a) For certificates issued before one year after the January 1, 1998, the value of a paid-up nonforfeiture benefit and
the amount of a cash surrender value, loan, or other option granted shall comply with the provisions of law applicable
on December 31, 1997.
- (b) For certificates issued on or after January 1, 1999 for which reserves are computed on the Commissioner's 1941
Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Table, the Commissioner's 1958 Standard
Ordinary Mortality Table, the Commissioner's 1980 Standard Mortality Table, or a more recent table made applicable to
life insurers, a paid-up nonforfeiture benefit and the amount of a cash surrender value, loan, or other option granted
may not be less than the corresponding amount based on the interest rate and mortality tables authorized by the laws of
this state for the calculation of those benefits by life and health insurers issuing policies containing similar
benefits based upon these tables.
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