§ 38.2-3139. Minimum reserves
A. In no event shall an insurer's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, be less than the aggregate reserves calculated in accordance with the methods set forth in §§ 38.2-3137, 38.2-3138, 38.2-3141 and 38.2-3142 and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for those policies.
B. In no event shall the aggregate reserves for all policies, contracts and benefits be less than the aggregate reserves determined by the qualified actuary to be necessary to render the opinion required by § 38.2-3127.1.
(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; 1992, c. 588.)
Sections: Previous 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 38.2-3140 38.2-3141 38.2-3142 38.2-3143 38.2-3144 NextLast modified: April 16, 2009