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Terms Used In Maryland Code, INSURANCE 17-306

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
Each policy of group life insurance shall contain a provision that:

(1) specifies that an equitable adjustment of premiums or benefits or both will be made if the age of an insured is misstated; and

(2) clearly states the method of adjustment to be used.