{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4030.8","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4030.8","heading":"Present value of paid-up annuity benefit available as","body":"nonforfeiture option.\n\nFor contracts that do not provide cash surrender benefits, the\n\npresent value of any paid-up annuity benefit available as a\n\nnonforfeiture option at any time prior to maturity shall not be less\n\nthan the present value of that portion of the maturity value of the\n\npaid-up annuity benefit provided under the contract arising from\n\nconsiderations paid prior to the time the contract is surrendered in\n\nexchange for, or changed to, a deferred paid-up annuity, such\n\npresent value being calculated for the period prior to the maturity\n\ndate on the basis of the interest rate specified in the contract for\n\naccumulating the net considerations to determine maturity value, and\n\nincreased by any existing additional amounts credited by the company\n\nto the contract. For contracts that do not provide any death\n\nbenefits prior to the commencement of any annuity payments, present\n\nvalues shall be calculated on the basis of such interest rate and\n\nthe mortality table specified in the contract for determining the\n\nmaturity value of the paid-up annuity benefit. However, in no event\n\nshall the present value of a paid-up annuity benefit be less than\n\nthe minimum nonforfeiture amount at that time.","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":"b87c38524e72cec2abe122ad89a73ab8e27e2c88294f42e48860162513befdbd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4030.7","next":"us-ok/okla.-stat.-tit.-36-36-4030.9"},"notice":"GroundRules: Original legal text. Not legal advice."}