2019 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 733 - Accounting and Investments
Section 733.316 - Aggregate reserves.
(1) The aggregate reserves of an insurer for all life insurance policies, excluding disability and accidental death benefits, issued on or after the operative date stated in ORS 743.204 for the Standard Nonforfeiture Law for Life Insurance, shall not be less than the aggregate reserves calculated in accordance with the methods set forth in ORS 733.312, 733.314, 733.320 and 733.322 and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for such policies.
(2) The aggregate reserves of an insurer for all policies, contracts and benefits shall not be less than the aggregate reserves determined by the qualified actuary to be necessary to render the opinion required by ORS 733.304. [1991 c.401 §25; 2015 c.547 §24]
Note: The amendments to 733.316 by section 24, chapter 547, Oregon Laws 2015, apply for a limited period. See section 28, chapter 547, Oregon Laws 2015 (second note under 733.302). The text that is applicable for the limited period is set forth for the user’s convenience.
(1) The aggregate reserves of an insurer for all life insurance policies, excluding disability and accidental death benefits, issued on or after the operative date stated in ORS 743.204 for the Standard Nonforfeiture Law for Life Insurance, may not be less than the aggregate reserves calculated in accordance with the methods set forth in ORS 733.312, 733.314, 733.320 and 733.322 and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for such policies.
(2) The aggregate reserves of an insurer for all policies, contracts and benefits may not be less than the aggregate reserves that the appointed actuary determines to be necessary to render the opinion required by ORS 733.304.
