2013 New York Consolidated Laws
ISC - Insurance
Article 13 - (1301 - 1325) ASSETS AND DEPOSITS
1304 - Valuation reserves.

 
    §  1304.  Valuation  reserves.  Every  insurer  authorized  under this
  chapter to transact the kinds of insurance specified in  paragraph  one,
  two  or  three  of  subsection  (a)  of section one thousand one hundred
  thirteen of this chapter shall, subject to specific provisions  of  this
  chapter, maintain:
    (a) reserves on all of its life insurance policies or certificates and
  annuity  contracts in force, computed according to the applicable tables
  of mortality and rates of interest prescribed in this chapter;
    (b) reserves for disability benefits, including reserves for  disabled
  lives whether reported or unreported, and for accidental death benefits;
  and
    (c)  any  additional  reserves  prescribed  by  the  superintendent as
  necessary on  account  of  such  insurer's  policies,  certificates  and
  contracts.