{"data":{"id":"us-md/md.-code-insurance-16-306","jurisdiction":"us-md","citation":"Md. Code, Insurance § 16–306","heading":"","body":"On default of a premium payment due on a policy anniversary, the present value of any paid-up nonforfeiture benefit available under the policy, calculated as of that policy anniversary:\n(1) shall at least equal the cash surrender value provided under the policy, calculated as of that policy anniversary; or\n(2) if no cash surrender value is provided, shall equal the cash surrender value that would have been required under this subtitle absent a condition that premiums shall have been paid for at least a specified period.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=16-306","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"fadc619925f9103cdd8c0d653759e94c75c1ba495d12d842b4527ecb91c2db72","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-16-305","next":"us-md/md.-code-insurance-16-307"},"notice":"GroundRules: Original legal text. Not legal advice."}