South Dakota § 58-26-83 Requirements for reserves for life insurance providing for future premium determination or for reserves undeterminable under methods in §

South Dakota Statutes

§ 58-26-83 — Requirements for reserves for life insurance providing for future premium determination or for reserves undeterminable under methods in §

South Dakota·Title 58 INSURANCE·Ch. 58-26 VALUATION OF ASSETS, LIABILITIES AND RESERVES

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 a nature that the minimum reserves cannot be determined by the methods described in §§ 58-26-75 , 58-26-76 , 58-26-81 , and 58-26-82 , the reserves which are held under any plan must:

(1)Be appropriate in relation to the benefits and the pattern of premiums for that plan; and (2) Be computed by a method which is consistent with the principles of this Standard Valuation Law, as determined by rules promulgated by the director pursuant to chapter 1-26 .

Free access — add to your briefcase to read the full text and ask questions with AI

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 a nature that the minimum reserves cannot be determined by the methods described in §§ 58-26-75 , 58-26-76 , 58-26-81 , and 58-26-82 , the reserves which are held under any plan must: (1) Be appropriate in relation to the benefits and the pattern of premiums for that plan; and (2) Be computed by a method which is consistent with the principles of this Standard Valuation Law, as determined by rules promulgated by the director pursuant to chapter 1-26 .

South Dakota § 58-26-83 (Requirements for reserves for life insurance providing for future premium determination or for reserves undeterminable under methods in §) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.