If an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, is participating, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the contract.
Ala. Code § 27-15-21
Annuity and Pure Endowment Contract Provisions - Dividends.
(Acts 1971, No. 407, p. 707, §366.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.