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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.)