2006 Code of Virginia § 38.2-3139 - Minimum reserves

38.2-3139. Minimum reserves.

A. In no event shall an insurer's aggregate reserves for all life insurancepolicies, excluding disability and accidental death benefits, be less thanthe aggregate reserves calculated in accordance with the methods set forth in 38.2-3137, 38.2-3138, 38.2-3141 and 38.2-3142 and the mortality table ortables and rate or rates of interest used in calculating nonforfeiturebenefits for those policies.

B. In no event shall the aggregate reserves for all policies, contracts andbenefits be less than the aggregate reserves determined by the qualifiedactuary to be necessary to render the opinion required by 38.2-3127.1.

(Code 1950, 38-394; 1952, c. 317, 38.1-456; 1959, Ex. Sess., c. 43; 1962,c. 562; 1975, c. 215; 1979, c. 437; 1982, c. 227; 1986, c. 562; 1992, c. 588.)