Section 58-26-67 - Tables used for individual annuity and pure endowment contracts issued onor after July 1, 1978--Interest.
58-26-67. Tables used for individual annuity and pure endowment contracts issued on or after July 1, 1978--Interest. The tables that shall be used for individual annuity and pure endowment contracts issued on or after July 1, 1978, other than single premium immediate annuity contracts, excluding any disability and accidental death benefits in the contracts are: the 1971 Individual Annuity Mortality Table or any individual annuity mortality table adopted after 1980 by the National Association of Insurance Commissioners, that is approved by rules promulgated pursuant to chapter 1-26 by the director for use in determining the minimum standard of valuation for the contracts, or any modification of these tables approved by the director, and five and one-half percent interest for single premium deferred annuity and pure endowment contracts and four and one-half percent interest for all other individual annuity and pure endowment contracts.
Source: SL 1995, ch 284, § 23.