38.2-3225 - Maturity date. - Virginia Statutes

§ 38.2-3225. Maturity date.

For the purpose of determining the benefits calculated under §§ 38.2-3223 and38.2-3224 for annuity contracts under which an election may be made to haveannuity payments commence at optional maturity dates, the maturity date shallbe deemed to be the latest date for which election is permitted by thecontract, but shall not be deemed to be later than the anniversary of thecontract next following the annuitant's seventieth birthday or the tenthanniversary of the contract, whichever is later.

(1979, c. 437, § 38.1-470.1; 1986, c. 562.)