§ 38.2-3816. Policies companies may issue; reserves required; provisions concerning increase of rates and extra ...
Any company may issue contracts of life, accident and sickness insurance or combinations of them. The reserves for such policies or contracts shall be based upon the American Experience Table of Mortality, with an interest assumption of no more than four percent, or some higher standard, or upon any minimum standard allowed by law in this Commonwealth for legal reserve life insurers. It may provide in its laws or bylaws and membership contracts that the rates shall not be increased or extra assessments made.
(Code 1950, § 38-488; 1952, c. 317, § 38.1-516; 1986, c. 562.)
Sections: Previous 38.2-3804 38.2-3805 38.2-3806 38.2-3807 38.2-3808 38.2-3809 38.2-3810 38.2-3811 38.2-3812 38.2-3813 38.2-3814 38.2-3815 38.2-3816 38.2-3817 38.2-3818 NextLast modified: April 3, 2009