§3791i. Minimum reserves

Link to law: http://legislature.vermont.gov/statutes/section/08/103/03791i
Published: 2015

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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

103

:
LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS






Subchapter

004A
:
STANDARD VALUATION LAW










 

§

3791i. Minimum reserves

(a) In no event

shall a company's aggregate reserves for all life insurance policies, excluding

disability and accidental death benefits, issued on or after July 1, 1968 be

less than the aggregate reserves calculated in accordance with the methods set

forth in sections 3791g, 3791h, 3791k, and 3791l of this subchapter and the

mortality table or tables and rate or rates of interest used in calculating

nonforfeiture benefits for the policies.

(b) In no event

shall the aggregate reserves for all policies, contracts, and benefits be less

than the aggregate reserves determined by the appointed actuary to be necessary

to render the opinion required by section 3791c of this subchapter. (Added

2015, No. 63, § 1, eff. June 17, 2015.)
Read Entire Law on legislature.vermont.gov