District of Columbia Statutes
§ 31-4720 — Calculations of premiums and reserves.
District of Columbia·Title 31 Insurance and Securities.·Ch. 47 Provisions Relating to All Life Insurance Companies.
If in any contract year the gross premium charged by any life insurance company on any policy or contract subject to § 31-4701(a)(1) is less than the valuation net premium for the policy or contract calculated by the method used in calculating the reserve thereon but using the minimum valuation standards of mortality and rate of interest, the minimum reserve required for such policy or contract shall be the greater of either the reserve calculated according to the mortality table, rate of interest, and method actually used for such policy or contract, or the reserve calculated by the method actually used for such policy or contract but using the minimum standards of mortality and rate of interest and replacing the valuation net premium by the actual gross premium in each contract year for
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Legislative History
June 19, 1934, 48 Stat. 1176, ch. 672, ch. V, § 20; Oct. 13, 1978, D.C. Law 2-120, § 10, 25 DCR 1519; Mar. 14, 1985, D.C. Law 5-160, § 3(g), 32 DCR 39
Nearby Sections
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§ 31-1001
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Functions and duties.§ 31-105
Transfers.§ 31-106
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Prohibited conduct – student loan servicers.§ 31-106.02b
Affirmative duties – student loan servicers.§ 31-106.02c
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