N.J.S.A. 17:44B-19 — Certificates issued in 1998, compliance with prior law; after 1998 requirements

17:44B-19. Certificates issued in 1998, compliance with prior law; after 1998 requirements 19. a. For certificates issued prior to one year after the effective date of this act, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall comply with the provisions of law applicable immediately prior to the effective date of this act. b. For certificates issued on or after one year after the effective date of this act, every paid-up nonforfeiture benefits and the amount of any cash surrender value, loan or other option granted shall not be less than the corresponding amount based on the interest rate and mortality tables authorized by the laws of this State for the calculation of those benefits by life and health insurers issuing policies containing like benefits. L.1997,c.322,s.19.

This is the verbatim text of N.J.S.A. 17:44B-19, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.