§ 38.2-3128. Decrease of standards higher than minimum
Each insurer that has adopted a standard of valuation producing greater aggregate reserves than those calculated according to the minimum standard provided in this article may, with the approval of the Commission, adopt any lower standard of valuation that equals or exceeds the minimum provided in this article. However, for purposes of this section, the holding of additional reserves previously determined by a qualified actuary to be necessary to render the opinion required by § 38.2-3127.1 shall not be deemed to be the adoption of a higher standard of valuation.
(Code 1950, § 38-392; 1952, c. 317, § 38.1-454; 1986, c. 562; 1992, c. 588.)
Sections: Previous 38.2-3122 38.2-3123 38.2-3124 38.2-3125 38.2-3126 38.2-3127 38.2-3127.1 38.2-3128 38.2-3129 38.2-3130 38.2-3131 38.2-3132 38.2-3133 38.2-3134 38.2-3135 NextLast modified: April 16, 2009