No illustration of projected dividends under a participating individual life insurance policy or annuity contract may be used in conjunction with the sale or solicitation of the policy or contract in this State unless the projected dividend scale or the basis of the formula for determining the projected dividend scale has been filed with the Insurance Administration, either in the insurer's annual statement or otherwise, and unless the filing is based upon a reasonable classification of risks which is not unfairly discriminatory.

Authority: Insurance Article, §§2-109, 8-467, 8-468, 12-203, 12-204, 12-205, 16-112, and 27-202, Annotated Code of Maryland

Effective date: September 1, 1970

Chapter recodified from COMAR 09.30.25 to COMAR 31.15.01 effective September 7, 1998 (25:18 Md. R. 1439)