Maryland Code > INSURANCE > Title 16 > Subtitle 6 – Variable Contracts
Current as of: 2023 | Check for updates
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Other versions
| § 16-601 | Authority to issue variable contracts |
| § 16-602 | Investments of segregated asset accounts |
| § 16-603 | Contract form subject to approval; required policy provisions |
Terms Used In Maryland Code > INSURANCE > Title 16 > Subtitle 6 - Variable Contracts
- 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.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See