OAR 836-051-0156: Fair Surrender Charges

Edition: Current OARD snapshotEffective: 2016-01-01Last verified: 2026-09-07

An insurer shall treat funds withdrawn from a contract, when such funds are subject to surrender charges, as withdrawn on a first-in-first-out basis unless the insurer allows an alternative method that is more beneficial to the contract holder.

Official history and status

Statutory/Other Authority: Sec. 2 & Ch. 85 OL 2015

Statutes/Other Implemented: Sec. 2 & Ch. 85 OL 2015

History: ID 17-2015, f. 12-29-15, cert. ef. 1-1-16

This rule cites

No citations extracted.

Cited by

OAR 836-051-0150: Individual Deferred Annuities Surrender Charge

Official source: https://secure.sos.state.or.us/oard/