Group annuity or pure endowment contracts

1. Except as provided in subsections 2 and 3, the 1983 GAM Table and the 1983 Table "a" and the 1994 GAR Table are recognized and approved as group annuity mortality tables for valuation and, at the option of the company, any one of these tables may be used for purposes of valuation for any annuity or pure endowment purchased on or after July 1, 1983, under a group annuity or pure endowment contract. 2. Except as provided in subsection 3, either the 1983 GAM Table or the 1994 GAR Table must be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after January 1, 1986, under a group annuity or pure endowment contract. 3. The 1994 GAR Table must be used for determining the minimum standard of valuation for any annuity or pure endowment purchased on or after September 1, 1999, under a group annuity or pure endowment contract.