Okla. Stat. tit. 36, § 36-4022
This is the official text of Okla. Stat. tit. 36, § 36-4022, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Reinstatement of annuities
Official statutory text
In an annuity or pure endowment contract, other than a
reversionary, survivorship, or group annuity, there shall be a
provision that the contract may be reinstated at any time within one
(1) year from the default in making stipulated payments to the
insurer, unless the cash surrender value has been paid, but all
overdue stipulated payments and any indebtedness to the insurer on
the contract shall be paid or reinstated with interest thereon at a
rate to be specified in the contract but not exceeding six percent
(6%) per annum payable annually, and in cases where applicable the
insurer may also include a requirement of evidence of insurability
satisfactory to the insurer.
reversionary, survivorship, or group annuity, there shall be a
provision that the contract may be reinstated at any time within one
(1) year from the default in making stipulated payments to the
insurer, unless the cash surrender value has been paid, but all
overdue stipulated payments and any indebtedness to the insurer on
the contract shall be paid or reinstated with interest thereon at a
rate to be specified in the contract but not exceeding six percent
(6%) per annum payable annually, and in cases where applicable the
insurer may also include a requirement of evidence of insurability
satisfactory to the insurer.
Status: in_force · Read it on the official government site
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