2014 Virginia Code
Title 38.2 - Insurance
§ 38.2-3140. (Repealed effective January 1, 2015) Optional reserve calculation

Reserves for any category of policies, contracts or benefits as established by the Commission may be calculated, at the insurer's option, according to any standards that produce greater aggregate reserves for the category than those calculated according to the minimum standard provided in this article, 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 in those policies and contracts. However, for purposes of this section, the holding of additional reserves previously determined by a qualified actuary to be necessary to render the opinion required by § 38.2-3127.1 shall not be deemed to be the adoption of a higher standard of valuation.

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 .