Section 26-A1101. GROUP ANNUITY OR PURE ENDOWMENT CONTRACTS

 

1101.1Except as provided in subsections 1101.2 of this section, the 1983 GAM Table, the 1983 Table "a" and the 1994 GAR Table are recognized and approved as group annuity mortality tables for valuation and, at the option of the company, any one of these tables may be used for purposes of valuation for an annuity or pure endowment purchased on or after October 13, 1978, but before January 1, 2000, under a group annuity or pure endowment contract.

 

1101.2The 1994 GAR Table shall be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after January 1, 2000 under a group annuity or pure endowment contract.

 

 

authority

Section 28 of the Life Insurance Act, effective March 14, 1985 (D.C. Law 5-160; D.C. Official Code § 31-4728 (1998 Repl.)), and the Department of Insurance and Securities Regulation Establishment Act of 1996, effective May 21, 1997 (D.C. Law 11-268; D.C. Official Code § 31-103(a)(1) (1998 Repl.)).

source

Final Rulemaking published at 47 DCR 2414 (April 7, 2000).