Arkansas Code Title 23, Subtitle 3, Chapter 84 - Standard Valuation Law for Life Insurance and Annuities
- § 23-84-101 - Title -- Definitions.
(a) This chapter shall be known and may be cited as the "Standard Valuation Law for Life Insurance and Annuities".(b) As used in this...
- § 23-84-102 - Valuation of Reserves by Insurance Commissioner.
(a) Except as provided in subdivision (a)(4) of this section, for a policy or contract issued before the operative date of the valuation manual:...
- § 23-84-103 - Minimum Standard for Valuation Generally.
(a) Except as provided in §§ 23-84-104, 23-84-105, and 23-84-114, the minimum standard for the valuation of all policies and contracts issued prior to...
- § 23-84-104 - Minimum Standard for Valuation -- Annuity and Pure Endowment Contracts.
(a) Except as provided in § 23-84-105, the minimum standard for the valuation of all individual annuity and pure endowment contracts issued on or...
- § 23-84-105 - Minimum Standard for Valuation -- Interest Rates.
(a) Applicability of this Section. The interest rates used in determining the minimum standard for the valuation of the following shall be the calendar...
- § 23-84-106 - Calculation of Reserves Generally.
(a) Except as otherwise provided in §§ 23-84-107 and 23-84-110, reserves according to the Insurance Commissioner's reserve valuation method, for the life insurance and...
- § 23-84-107 - Calculation of Reserves -- Certain Annuity and Pure Endowment Contracts.
(a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement...
- § 23-84-108 - Calculation of Reserves -- Minimum Aggregate Reserves for Certain Life Insurance Policies.
(a) In no event shall an insurer's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after...
- § 23-84-109 - Calculation of Reserves -- Standards of Valuation.
(a) Reserves for policies and contracts issued before January 1, 1960, may be calculated, at the option of the insurer, according to any standards...
- § 23-84-110 - Calculation of Reserves -- Certain Life Insurance Policies and Contracts.
(a) If in any contract year the gross premium charged by a company on any policy or contract is less than the valuation net...
- § 23-84-111 - Calculation of Reserves -- Future Premium Determinations by Life Insurers.
(a) In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined...
- § 23-84-112 - Actuarial Opinion of Reserves.
(a) Actuarial Opinion Prior to Operative Date of the Valuation Manual. (1) General. (A) Every life insurance company doing business in this state shall...
- § 23-84-113 - Rules and Regulations.
The Insurance Commissioner shall have the authority to promulgate reasonable rules and regulations as may be appropriate to carry out the purposes and provisions...
- § 23-84-114 - Minimum Standard for Accident and Health Insurance.
(a) The Insurance Commissioner shall promulgate rules containing the minimum standards that apply to the valuation of accident and health insurance issued on or...
- § 23-84-115 - Valuation of Policy or Contract Issued on or After Operative Date of the Valuation Manual.
(a) Except as provided in this section, for a policy or contract issued on or after the operative date of the valuation manual, the...
- § 23-84-116 - Requirements of Principle-Based Valuation.
(a) A company shall establish reserves for a policy or contract using a principle-based valuation as specified in the valuation manual that: (1) (A)...
- § 23-84-117 - Experience Reporting.
For a policy or contract in force on or after the operative date of the valuation manual, a company shall submit mortality, morbidity, policyholder...
- § 23-84-118 - Confidentiality.
(a) As used in this section, "confidential information" means: (1) A memorandum in support of an opinion submitted under § 23-84-112 and any other...
- § 23-84-119 - Single-State and Small Company Exemptions.
(a) (1) The Insurance Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only...
Last modified: November 15, 2016