ORS 743.275 Standard Nonforfeiture Law for Individual Deferred Annuities; application

ORS 743.275 to 743.295 may be cited as the Standard Nonforfeiture Law for Individual Deferred Annuities.

The Standard Nonforfeiture Law for Individual Deferred Annuities does not apply to:

Reinsurance.

A group annuity policy purchased under a retirement or deferred compensation plan established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both. This exclusion does not apply, however, to a plan providing individual retirement accounts or individual retirement annuities under section 408 of the federal Internal Revenue Code.

A premium deposit fund.

A variable annuity policy.

An investment annuity policy.

An immediate annuity policy.

A deferred annuity policy after annuity payments have commenced.

A reversionary annuity.

A policy delivered outside this state through an agent or other representative of the insurer issuing the policy.