HB 80 (BR 271) - R. Crimm
AN ACT relating to annuity nonforfeiture provisions.
Amend KRS 304.15-365 to prohibit surrender charges beyond the maturity date of an annuity except for certain annuity contracts with renewable periods with an interest rate in excess of the minimum rate, and that meet certain conditions; allow an annuity contract that provides flexible considerations to have a separate surrender charge schedule and separate calculation of maturity dates.
(Prefiled by the sponsor(s).)
Jan 4-introduced in House; to Banking & Insurance (H)