375.1515. Supplemental illustrations permitted, when — notice required. — 1. A supplemental illustration may be provided so long as:
(1) It is appended to, accompanied by or preceded by a basic illustration that complies with sections 375.1500 to 375.1527;
(2) The nonguaranteed elements shown are not more favorable to the policy owner than the corresponding elements based on the scale used in the basic illustration;
(3) It contains the same statement required of a basic illustration that nonguaranteed elements are not guaranteed; and
(4) For a policy that has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration. For policies that do not require a contract premium, the premium outlay underlying the supplemental illustration shall be equal to the premium outlay shown in the basic illustration.
2. The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.
--------
(L. 1998 S.B. 722 § 11)
---- end of effective 28 Aug 1998 ----
|
|||
Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law | |||
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. | |||
|
Recent Sections | Editorials | May Be Cited As | Tables & Forms | Multiple Enact |
Repeal & Transfer | Definitions | End Report | ||
|
||||
Site changes | Pictures | Contact |
Legislative Research | Oversight | MOLIS | |||
Library | MO WebMasters |