58-26-66. Tables used for individual single premium immediate annuity contracts issued on or after July 1, 1978--Interest. The tables that shall be used for individual single premium immediate annuity contracts issued on or after July 1, 1978, excluding any disability and accidental death benefits in the contracts are: the 1971 Individual Annuity Mortality Table or any individual annuity mortality table, adopted after 1980 by the NAIC that is approved by rules promulgated pursuant to chapter 1-26 by the director for use in determining the minimum standard of valuation for the contracts, or any modification of these tables approved by the director, and seven and one-half percent interest.
Source: SL 1995, ch 284, § 22; SL 2015, ch 254, § 12.
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