(215 ILCS 5/281) (from Ch. 73, par. 893)
Sec. 281.
Subject to
legal reserve life provisions.
Unless otherwise provided in this article, assessment legal reserve life
companies shall be subject to all of the provisions of Article XIV and to
the other applicable provisions of this Code, except that such companies
(a) may issue policies of life insurance valued on the American
Experience Table of Mortality with interest at four per centum instead of
three and one-half per centum per annum;
(b) shall not be permitted to issue policies valued on the American Men
Table of Mortality or at rates based on such table of mortality without
first having had and obtained the written consent of the Director; and
(c) shall not be required to provide in their policy contracts for loan
or non-forfeiture values and tables therefor as provided in clauses (f),
(g), and (h) of section 224 and as required by section 229.2, but if
any of such values are provided, the policy contracts must contain the
required provisions of such applicable clauses.
(Source: Laws 1943, vol. 1, p. 824.)
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