Utah Statutes
§ 31A-17-512 — Reserve calculation -- Indeterminate premium plans.
Utah·Title 31A Insurance Code·Ch. 31A-17 Determination of Financial Condition·Part 31A-17-5 Standard Valuation Law
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 31A-17-507, 31A-17-508, and 31A-17-511, the reserves which are held under any such plan shall:
(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 part, as determined by rules promulgated by the commissioner.
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Legislative History
Amended by Chapter 258, 2015 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.