2006 Kentucky Revised Statutes - .410   Minimum reserves.

304.15-410 Minimum reserves. In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurer based on then estimates of future experience, or in the case of any plan of life insurance or annuity which is of such a nature that the minimum reserves cannot be determined by the methods described in KRS 304.6-150, 304.6-155 and 304.6-180, the reserves which are held under any such plan must: (1)  Be appropriate in relation to the benefits and the pattern of premiums for that plan; and (2)  Be computed by a method which is consistent with the principles of this standard valuation law; as determined by regulations promulgated by the executive director. Effective: July 15, 1982 History:Created 1982 Ky. Acts ch. 263, sec. 14, effective July 15, 1982. Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.