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.
NRS 688A.230
Annuities: Dividends
Known as the Standard Nonforfeiture Law
The act spans §§ 688A.010 to 688A.440 (62 sections).
(Added to NRS by 1971, 1732)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.