§ 23-84-118. Confidentiality — Definition
(a) As used in this section, “confidential information” means: (1) A memorandum in support of an opinion submitted under § 23-84-112 and any other documents, materials, and other information, including without limitation all working papers and copies of working papers created, produced, or obtained by or disclosed to the Insurance Commissioner or any other person […]
§ 23-84-119. Single-state and small company exemptions
(a) (1) The Insurance Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this state from the requirements of §§ 23-84-115 — 23-84-117 if: (A) The commissioner has issued a written exemption to the company and has not subsequently revoked the exemption in […]
§ 23-84-101. Title — Definitions
(a) This chapter shall be known and may be cited as the “Standard Valuation Law for Life Insurance and Annuities”. (b) As used in this chapter: (1) “Accident and health insurance” means: (A) A contract that incorporates morbidity risk and provides protection against economic loss resulting from accident, sickness, or medical conditions; and (B) The […]
§ 23-84-117. Experience reporting
For a policy or contract in force on or after the operative date of the valuation manual, a company shall submit mortality, morbidity, policyholder behavior, or expense and other data as prescribed in the valuation manual.
§ 23-84-102. Valuation of reserves by Insurance Commissioner
(a) Except as provided in subdivision (a)(4) of this section, for a policy or contract issued before the operative date of the valuation manual: (1) (A) The Insurance Commissioner shall annually value, or cause to be valued, the reserves for all outstanding life insurance issued by a company on or after January 1, 1960, and […]
§ 23-84-103. Minimum standard for valuation generally
(a) Except as provided in §§ 23-84-104, 23-84-105, and 23-84-114, the minimum standard for the valuation of all policies and contracts issued prior to the operative date of § 23-81-213(a) shall be provided by the laws in effect immediately prior to January 1, 1960. (b) Except as otherwise provided in §§ 23-84-104, 23-84-105, and 23-84-114, […]
§ 23-84-104. Minimum standard for valuation — Annuity and pure endowment contracts
(a) Except as provided in § 23-84-105, the minimum standard for the valuation of all individual annuity and pure endowment contracts issued on or after the operative date of this section and for all annuities and pure endowments purchased on or after the operative date under group annuity and pure endowment contracts shall be the […]
§ 23-84-105. Minimum standard for valuation — Interest rates — Definitions
(a) Applicability of this Section. The interest rates used in determining the minimum standard for the valuation of the following shall be the calendar year statutory valuation interest rates as defined in this chapter: (1) All life insurance policies issued in a particular calendar year, on or after the operative date of § 23-81-213(d); (2) […]
§ 23-84-106. Calculation of reserves generally
(a) Except as otherwise provided in §§ 23-84-107 and 23-84-110, reserves according to the Insurance Commissioner’s reserve valuation method, for the life insurance and endowment benefits of policies providing for a uniform amount of insurance and requiring the payment of uniform premiums, shall be the excess, if any, of the present value at the date […]
§ 23-84-107. Calculation of reserves — Certain annuity and pure endowment contracts
(a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both, other than a plan providing […]