§ 38.2-3132. Computation of minimum valuation standard of policies subsequently issued
The interest rates used in determining the minimum standard for the valuation of the following items shall be the calendar year statutory valuation interest rates as defined in §§ 38.2-3130 through 38.2-3136:
1. All life insurance policies issued in a particular calendar year, on or after the operative date of § 38.2-3209;
2. All individual annuity and pure endowment contracts issued in a particular calendar year on or after January 1, 1983, except that an insurer may elect for this to apply to all individual annuity and pure endowment contracts issued after July 1, 1982;
3. All annuities and pure endowments purchased in a particular calendar year on or after January 1, 1983, under group annuity and pure endowment contracts; and
4. Any net increase in a particular calendar year after January 1, 1983, in amounts held under guaranteed interest contracts.
(Code 1950, § 38-394; 1952, c. 317, § 38.1-456; 1959, Ex. Sess., c. 43; 1962, c. 562; 1975, c. 215; 1979, c. 437; 1982, c. 227; 1986, c. 562.)
Sections: Previous 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 38.2-3136 38.2-3137 38.2-3138 38.2-3139 NextLast modified: April 16, 2009