Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024
Section 16-103 - Assessable life insurance or annuities prohibited
A life insurer may not:
(1) issue or deliver in the State a policy of life insurance or an annuity contract that provides for the payment of an assessment by a policyholder or member in addition to the premium stated in the policy or annuity contract to be charged for the life insurance or annuity; or(2) levy or collect an assessment prohibited by item (1) of this section.