27-16-9
Section 27-16-9 Policy provisions - Reinstatement. (a) There shall be a provision that unless
the policy has been surrendered for its cash value, or its cash surrender value has been exhausted
or the period of any extended insurance provided by the policy has expired, the policy will
be reinstated at any time within two years after the date of premium default upon written
application therefor, the production of evidence of insurability satisfactory to the insurer,
the payment of all overdue premiums and payment or, within the limits permitted by the then
cash value of the policy, reinstatement of any other indebtedness to the insurer upon the
policy with interest as to both premiums and indebtedness at a rate not exceeding six percent
per annum compounded annually. (b) If for the purpose of or toward reinstatement of a policy
after its lapse the insurer receives a payment or tender of premium or other funds in amount
less than as required to effectuate the reinstatement so as to place...
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7-2-320
Section 7-2-320 C.I.F. and C. & F. terms. (1) The term C.I.F. means that the price includes
in a lump sum the cost of the goods and the insurance and freight to the named destination.
The term C. & F. or C.F. means that the price so includes cost and freight to the named
destination. (2) Unless otherwise agreed and even though used only in connection with the
stated price and destination, the term C.I.F. destination or its equivalent requires the seller
at his own expense and risk to: (a) Put the goods into the possession of a carrier at the
port for shipment and obtain a negotiable bill or bills of lading covering the entire transportation
to the named destination; and (b) Load the goods and obtain a receipt from the carrier (which
may be contained in the bill of lading) showing that the freight has been paid or provided
for; and (c) Obtain a policy or certificate of insurance, including any war risk insurance,
of a kind and on terms then current at the port of shipment in the usual...
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27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer,
the association may, in its discretion and subject to any conditions imposed by the association
that do not impair the contractual obligations of the impaired insurer, and that are approved
by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured,
any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges,
notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure
payment of the contractual obligations of the impaired insurer pending action under subdivision
(1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion
and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee,
assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies
of the insolvent insurer. b. Assure payment of the...
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27-42-8
Section 27-42-8 Powers and duties. (a) The association shall: (1)a. Be obligated to pay covered
claims existing prior to the order of liquidation arising within 30 days after the order of
liquidation, or before the policy expiration date if less than 30 days after the order of
liquidation, or before the insured replaces the policy or causes its cancellation, if he or
she does so within 30 days of the order of liquidation. The obligation shall be satisfied
by paying to the claimant an amount as follows: 1. The full amount of a covered claim for
benefits under workers' compensation insurance coverage. 2. An amount not exceeding ten thousand
dollars ($10,000) per policy for a covered claim for the return of unearned premium. 3. An
amount not exceeding three hundred thousand dollars ($300,000) or the policy limits, whichever
is less, per claim for all covered claims. For purposes of this limitation, all claims of
any kind whatsoever arising out of, or related to, bodily injury or death to...
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30-4-17
Section 30-4-17 Revocation of certain transferable interests in property upon divorce or annulment.
(a) In this section, the following terms have the following meanings: (1) DISPOSITION OR APPOINTMENT
OF PROPERTY. Includes a transfer of an item of property or any other benefit to a beneficiary
designated in a governing instrument. (2) DIVORCE or ANNULMENT. Any divorce or annulment,
or any dissolution or declaration of invalidity of a marriage, that would exclude the spouse
as a surviving spouse within the meaning of Section 43-8-252. A decree of separation that
does not terminate the status of husband and wife is not a divorce for purposes of this section.
(3) DIVORCED INDIVIDUAL. An individual whose marriage has been terminated by divorce or annulment.
(4) GOVERNING INSTRUMENT. An instrument executed by the divorced individual before the divorce
or annulment of his or her marriage to his or her former spouse. (5) RELATIVE OF THE DIVORCED
INDIVIDUAL'S FORMER SPOUSE. An individual who...
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27-15-11
Section 27-15-11 Life insurance policy provisions - Reinstatement. There shall be a provision
that unless the policy has been surrendered for its cash value, or its cash surrender value
has been exhausted or the period of any extended insurance provided by the policy has expired,
the policy will be reinstated at any time within three years after the date of premium default
upon written application therefor, the production of evidence of insurability satisfactory
to the insurer, the payment of all overdue premiums and payment, or, within the limits permitted
by the then cash value of the policy, reinstatement, of any other indebtedness to the insurer
upon the policy, with interest as to both premiums and indebtedness at a rate not exceeding
the rate of interest on policy loans specified in the policy in accordance with the provisions
of Section 27-15-8, as may be amended from time to time. (Acts 1971, No. 407, p. 707, §356;
Acts 1981, No. 81-381, p. 564, §1.)...
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27-15-73
Section 27-15-73 Computation of cash surrender value. (a) Any cash surrender value available
under the policy in the event of default in the premium payment due on any policy anniversary,
whether or not required by Section 27-15-72, shall be an amount not less than the excess,
if any, of the present value on such anniversary of the future guaranteed benefits which would
have been provided for by the policy, including any existing paid-up additions if there had
been no default, over the sum of: (1) The then present value of the adjusted premium as defined
in Sections 27-15-75, 27-15-76, 27-15-77, and 27-15-78, corresponding to premiums which would
have fallen due on and after such anniversary. (2) The amount of any indebtedness to the insurer
on account of or secured by the policy. (b) Provided, however, that for any policy issued
on or after the operative date of Section 27-15-78, as defined therein, which provides supplemental
life insurance or annuity benefits at the option of the...
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27-15-81
Section 27-15-81 Consistency of progression of cash surrender values with increasing policy
duration. (a) This section, in addition to all other applicable sections of this article,
shall apply to all policies issued on or after January 1, 1985. Any cash surrender value available
under the policy in the event of default in a premium payment due on any policy anniversary
shall be in an amount which does not differ by more than two-tenths of one percent of either
the amount of insurance, if the insurance be uniform in amount, or the average amount of insurance
at the beginning of each of the first 10 policy years, from the sum of: (1) The greater of
zero and the basic cash value hereinafter specified. (2) The present value of any existing
paid-up additions, less the amount of any indebtedness to the insurer on account of or secured
by the policy. (b) The basic cash value shall be equal to the present value, on such anniversary,
of the future guaranteed benefits which would have been...
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27-17-6
Section 27-17-6 Policy provisions - Reinstatement. (a) There shall be a provision that the
policy may be reinstated at any time within two years after the date of default in the payment
of any premium unless the policy has been surrendered for its cash value or the period of
any extended insurance provided by the policy has expired, upon evidence of insurability satisfactory
to the insurer and the payment of all overdue premiums with interest at a rate not exceeding
six percent per annum compounded annually. (b) Subsections (b) and (c) of Section 27-16-9
shall also apply as to burial insurance policies. (Acts 1971, No. 407, p. 707, §397.)...

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27-36A-8
Section 27-36A-8 Reserve valuation method - Life insurance and endowment benefits. (a) Except
as otherwise provided in Sections 27-36A-9, 27-36A-12, and 27-36A-14, reserves according to
the commissioners reserve valuation method, for the life insurance and endowment benefits
of policies providing for a uniform amount of insurance and requiring the payment of uniform
premiums, shall be the excess, if any, of the present value, at the date of valuation, of
the future guaranteed benefits provided for by the policies over the then present value of
any future modified net premiums therefor. The modified net premiums for a policy shall be
the uniform percentage of the respective contract premiums for the benefits, excluding extra
premiums on a substandard policy, that the present value, at the date of issue of the policy,
of all modified net premiums shall be equal to the sum of the then present value of the benefits
provided for by the policy and the excess of subdivision (1) over...
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