1. A. This regulation applies to policies issued on or after January 1, 2004.

2. B. Election of Minimum Valuation Standard.

   1. (1) At the election of the insurer for any one or more specified plans of insurance and subject to satisfying the conditions stated in this chapter, the 2001 CSO Preferred Class Structure Mortality Table may be substituted in place of the 2001 CSO smoker or nonsmoker Mortality Table as the minimum valuation standard for policies issued on or after January 1, 2007.
   2. (2) For policies issued on or after January 1, 2004, and prior to January 1 2007, the 2001 CSO Preferred Class Structure Mortality Table may be substituted in place of the 2001 CSO smoker or nonsmoker Mortality Table with the consent of the Commissioner and subject to the conditions in Regulation .06C—H of this chapter. In determining such consent, the Commissioner may rely on the consent of the Commissioner of the company's state of domicile.
   3. (3) The election shall be made for each calendar year of issue.
   4. (4) No election in §B(1) and (2) of this regulation shall be made until the insurer demonstrates that at least 20 percent of the business to be valued on the basis of the 2001 CSO Preferred Class Structure Mortality Table is in one or more of the preferred classes.
   5. (5) A table from the 2001 CSO Preferred Class Structure Mortality Table used in place of a 2001 CSO Mortality Table, pursuant to the requirements of this chapter, is treated as part of the 2001 CSO Mortality Table only for purposes of reserve valuation pursuant to the requirements of the NAIC model regulation “Recognition of the 2001 CSO Mortality Table For Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits Model Regulation,” referenced in §C of this regulation.
3. C. National Association of Insurance Commissioners', “Recognition of the 2001 CSO Mortality Table For Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits Model Regulation”. FORM AT END OF CHAPTER

Authority: Insurance Article, §2-109, Title 5, Subtitle 3, and §16-309, Annotated Code of Maryland

Effective date: May 5, 1997 (24:9 Md. R. 656)

Annotation: Implementation of this chapter is described in Regulation .02D. Notice that this chapter is being implemented will be published in the Maryland Register.

Chapter recodified from COMAR 09.31.16 to COMAR 31.05.03 effective September 7, 1998 (25:18 Md. R. 1439)

Chapter revised as an emergency provision effective January 1, 2000 (27:3 Md. R. 326); revised permanently effective May 15, 2000 (27:8 Md. R. 860)

Chapter revised effective January 1, 2004 (30:24 Md. R. 1746)

Regulation .03B amended effective March 26, 2007 (34:6 Md. R. 630); December 15, 2008 (35:25 Md. R. 2151)

Regulation .04C adopted effective March 26, 2007 (34:6 Md. R. 630)

Regulation .05B amended effective December 15, 2008 (35:25 Md. R. 2151)

Regulation .05C adopted effective December 15, 2008 (35:25 Md. R. 2151)

Regulation .05C amended effective December 28, 2009 (36:26 Md. R. 1999)

Regulation .06 amended effective March 26, 2007 (34:6 Md. R. 630)

Regulation .06 amended as an emergency provision effective January 25, 2010 (37:4 Md. R. 336); amended permanently effective May 3, 2010 (37:9 Md. R. 674)

Regulation .10C, H amended as an emergency provision effective January 25, 2010 (37:4 Md. R. 336); amended permanently effective May 3, 2010 (37:9 Md. R. 674)

Regulation .15 adopted effective March 26, 2007 (34:6 Md. R. 630)

Regulation .15 amended as an emergency provision effective January 25, 2010 (37:4 Md. R. 336); amended permanently effective May 3, 2010 (37:9 Md. R. 674)