North Dakota Code > Chapter 26.1-34 – Annuities


§ 26.1-34-01	Required annuity contract provisions relating to cessation of payment of considerations by contractholder
§ 26.1-34-01.1	Annuity policies and certificates – Right to return
§ 26.1-34-02	Minimum nonforfeiture amount defined
§ 26.1-34-03	Value of paid-up annuity benefit to be at least equal to minimum nonforfeiture amount
§ 26.1-34-04	Cash surrender benefit to be at least equal to value of paid-up annuity benefit
§ 26.1-34-05	Minimum value of paid-up annuity on cessation of payment of considerations – Cash surrender benefits not provided
§ 26.1-34-06	Definition of maturity date
§ 26.1-34-07	Disclosure if annuity contract does not provide cash surrender or death benefits
§ 26.1-34-08	Benefits on cessation of payment of considerations off the anniversary
§ 26.1-34-09	Minimum nonforfeiture benefits for annuity contract providing both annuity and life insurance benefits – Excepted benefits
§ 26.1-34-10	Exemptions from annuity nonforfeiture provisions
§ 26.1-34-11	Variable annuities authorized – Application of variable life policy sections – Rulemaking authority

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Terms Used In North Dakota Code > Chapter 26.1-34 - Annuities

Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Contract: A legal written agreement that becomes binding when signed.
following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
Individual: means a human being. See North Dakota Code 1-01-49
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
year: means twelve consecutive months. See North Dakota Code 1-01-33