33-20-306. Dividends. If an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, is participating, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the contract.

     History: En. Sec. 317, Ch. 286, L. 1959; R.C.M. 1947, 40-3823.