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§ 58-26-79 Standards for calculating reserves for policies, contracts or benefits issued on or after July 1, 1995.

SD Codified L § 58-26-79 (2019) (N/A)
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58-26-79. Standards for calculating reserves for policies, contracts or benefits issued on or after July 1, 1995. Reserves for any category of policies, contracts, or benefits as established by the director, issued on or after July 1, 1995, may be calculated, at the option of the company, according to any standards which produce greater aggregate reserves for any category than those calculated according to the minimum standard provided in this chapter, but the rate or rates of interest used for policies and contracts, other than annuity and pure endowment contracts, may not be greater than the corresponding rate or rates of interest used in calculating any nonforfeiture benefits provided in the policies or contracts.

Source: SL 1995, ch 284, § 35; SL 2015, ch 254, § 20.

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§ 58-26-78 Standards for calculating reserves for policies and contracts issued prior to July 1, 1995.
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§ 58-26-80 Company's greater standard of valuation may be lowered with director approval.