§957-A. Superintendent's authority to approve certain plans
1. 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 insurance company 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 sections 954
and 957, the reserves which are held under any plan of that type must:
A. Be appropriate in relation to the benefits and the pattern of premiums for that plan; and [1983, c. 346, §8 (NEW).]
B. Be computed by a method which is consistent with the principles of this Standard Valuation Law, [1983, c. 346, §8 (NEW).]
as determined by regulations promulgated by the superintendent.
[
1983, c. 346, §8 (NEW)
.]
SECTION HISTORY
1983, c. 346, §8 (NEW).
Data for this page extracted on 11/09/2009 11:20:25.