{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4030.7","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4030.7","heading":"Cash surrender benefits prior to maturity","body":"For contracts that provide cash surrender benefits, the cash\n\nsurrender benefits available prior to maturity shall not be less\n\nthan the present value as of the date of surrender of that portion\n\nof the maturity value of the paid-up annuity benefit that would be\n\nprovided under the contract at maturity arising from considerations\n\npaid prior to the time of cash surrender reduced by the amount\n\nappropriate to reflect any prior withdrawals from or partial\n\nsurrenders of the contract, such present value being calculated on\n\nthe basis of an interest rate not more than one percent (1%) higher\n\nthan the interest rate specified in the contract for accumulating\n\nthe net considerations to determine maturity value, decreased by the\n\namount of any indebtedness to the company on the contract, including\n\ninterest due and accrued, and increased by any existing additional\n\namounts credited by the company to the contract. In no event shall\n\nany cash surrender benefit be less than the minimum nonforfeiture\n\namount at that time. The death benefit under such contracts shall\n\nbe at least equal to the cash surrender benefit.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"015c0796bc80b4a90a2d8fb1f7736101df648ba6cb0992e5855e1f5fea4df9b3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4030.6","next":"us-ok/okla.-stat.-tit.-36-36-4030.8"},"notice":"GroundRules: Original legal text. Not legal advice."}