83-7-49 - Application of insurance laws to separate accounts; contents of individual variable life insurance contracts.
§ 83-7-49. Application of insurance laws to separate accounts; contents of individual variable life insurance contracts.
Except for Section 83-7-25 of the insurance law in the case of a variable life insurance policy and except as otherwise provided in Sections 83-7-27 through 83-7-49, all pertinent provisions of the insurance laws of this state shall apply to separate accounts and contracts issued in connection therewith. Any individual variable life insurance contract, delivered or issued for delivery in this state shall contain nonforfeiture provisions appropriate to such a contract.
Sources: Codes, 1942, § 5649-42; Laws, 1968, ch. 475, § 12; Laws, 1978, ch. 457, § 11, eff from and after July 1, 1978.