SECTION 627.806. Applicability of code to indeterminate value contracts and variable life insurance contracts and accounts.

Latest version.

1(1) 2Subject to the provisions of subsection (2), all pertinent provisions of the insurance code, including the provisions relating to reinsurance, apply to indeterminate value contracts.
27(2) 28Except for ss. 31627.453, 32627.458, 33627.459, 34627.462, 35627.475, 36627.476, 37and 38627.559, 39and as otherwise provided in this part, all pertinent provisions of the insurance code apply to separate accounts and contracts relating to variable life insurance policies. Any individual variable life insurance contract delivered or issued for delivery in this state shall contain appropriate grace, reinstatement, and nonforfeiture provisions. Any group variable life insurance contract delivered or issued for delivery in this state shall contain an appropriate grace provision.

History.-s. 2, ch. 73-30; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 591, 593, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.

Bills Cite this Section:

None

Cited by Court Cases:

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