N.M. Admin. Code § 13.9.11.9 - GROUP ANNUITY OR PURE ENDOWMENT CONTRACTS
A. Except as provided in 13 NMAC 9.11.9.2 and
9.11.9.3 [now Subsections B and C of
13.9.11.9 NMAC], the 1983 GAM
table, the 1983 table "a" and the 1994 GAR table are recognized and approved as
group annuity mortality tables for valuation and, at the option of the company,
any one of these tables may be used for purposes of valuation for an annuity or
pure endowment purchased on or after July 1, 1977 under a group annuity or pure
endowment contract.
B. Except as
provided in 13 NMAC 9.11.9.3 [now Subsection C of
13.9.11.9 NMAC], either the 1983
GAM table or the 1994 GAR table shall be used for determining the minimum
standard of valuation for any annuity or pure endowment purchased on or after
December 31, 1985 under a group annuity or pure endowment contract.
C. The 1994 GAR table shall be used for
determining the minimum standard of valuation for any annuity or pure endowment
purchased on or after January 1, 1999 under a group annuity or pure endowment
contract.
Notes
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