Alabama Code (Last Updated: November 28, 2014) |
Title27 INSURANCE. |
Chapter15. LIFE INSURANCE AND ANNUITY CONTRACTS. |
Article1. General Provisions. |
§27-15-21. Annuity and pure endowment contract provisions - Dividends.
Latest version.
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If an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, is participating, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the contract.