TITLE 41

INSURANCE

CHAPTER 19

LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS

41-1943.  standards for policy provisions for annuities. No annuity shall be delivered or issued for delivery in this state that contains:

(1)  Surrender charges that persist past ten (10) years from the time of deposit; or

(2)  Surrender charges that exceed ten percent (10%) in the first year and decrease one percent (1%) per year in subsequent years.

History:

[41-1943, added 2020, ch. 290, sec. 3, p. 840.]