(1) The aggregate reserves of an insurer for all life insurance policies, excluding disability and accidental death benefits, issued on or after the operative date stated in ORS 743.204 for the Standard Nonforfeiture Law for Life Insurance, shall not be less than the aggregate reserves calculated in accordance with the methods set forth in ORS 733.312, 733.314, 733.320 and 733.322 and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for such policies.
(2) The aggregate reserves of an insurer for all policies, contracts and benefits shall not be less than the aggregate reserves determined by the qualified actuary to be necessary to render the opinion required by ORS 733.304. [1991 c.401 §25]
Section: Previous 733.302 733.304 733.306 733.308 733.310 733.312 733.314 733.316 733.318 733.320 733.322 733.510 733.520 733.530 733.540 NextLast modified: August 7, 2008