{"data":{"id":"us-mt/33-20-504","jurisdiction":"us-mt","citation":"33-20-504","heading":"Exception.","body":"Notwithstanding the requirements of 33-20-503, any deferred annuity contract may provide that if no consideration has been received under a contract for a period of 2 full years and the portion of the paid-up annuity benefit at maturity on the plan stipulated in the contract arising from consideration paid prior to such period would be less than $20 monthly, the company may at its option terminate such contract by payment in cash of the then present value of such portion of the paid-up annuity benefit, calculated on the basis of the mortality table, if any, and interest rate specified in the contract for determining the paid-up annuity benefit, and by such payment shall be relieved of any further obligation under such contract.","path":["TITLE 33. INSURANCE AND INSURANCE COMPANIES","CHAPTER 20. LIFE INSURANCE","Part 5. Standard Nonforfeiture Law Individual Deferred Annuities"],"source_url":"https://mca.legmt.gov/bills/mca/title_0330/chapter_0200/part_0050/section_0040/0330-0200-0050-0040.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:52:40Z","sha256":"97b3507869804de09713baea77e1aef7ffdec416adc779a56cfce7216e76819d","source_id":"us-mt","stale":false,"prev":"us-mt/33-20-503","next":"us-mt/33-20-505"},"notice":"GroundRules: Original legal text. Not legal advice."}