P.R. Laws tit. 26, § 1358

2019-02-20 00:00:00+00

§ 1358. Provisions for reversionary annuities same as for other annuities

Any reversionary annuity contract shall contain the provisions specified in §§ 1351–1355 of this title, except that under § 1351 of this title, the insurer may at its option provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue or deferred payment in lieu of providing for a deduction of such payments from an amount payable upon a settlement under the contract.

History —Ins. Code, added as § 13.240 on Nov. 9, 2007, No. 165, § 1, eff. 90 days after Nov. 9, 2007.