There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 6. Assets and Liabilities
304.6.170 Calculation of reserves.
Download pdfcalculated, at the option of the insurer, according to any standards which produce
greater aggregate reserves for such category than those calculated according to the
minimum standard herein provided, but the rate or rates of interest used for policies
and contracts, other than annuity and pure endowment contracts, shall not be higher
than the corresponding rate or rates of interest used in calculating any nonforfeiture
benefits provided for therein. (2) Any such company which at any time shall have adopted any standard of valuation producing greater aggregate reserves than those calculated according to the
minimum standard herein provided may, with the approval of the commissioner,
adopt any lower standard of valuation, but not lower than the minimum herein
provided; provided, however, that for the purposes of this section, the holding of
additional reserves previously determined by a qualified actuary to be necessary to
render the opinion requested by KRS 304.6-171 shall not be deemed to be the
adoption of a higher standard of valuation. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1005, effective July 15, 2010. -- Amended 1996 Ky. Acts ch. 289, sec. 3, effective July 15, 1996. -- Amended 1978
Ky. Acts ch. 280, sec. 6, effective June 17, 1978. -- Created 1970 Ky. Acts ch. 301,
subtit. 6, sec. 17, effective June 18, 1970.
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