Statutes > Alabama Statutes > Title 27 — INSURANCE. > Chapter 38 — SEPARATE ACCOUNTS AND VARIABLE ANNUITIES. > Section 27-38-5 Reserve liability for variable contracts.

Section 27-38-5 Reserve liability for variable contracts.

Section 27-38-5

Reserve liability for variable contracts.

The reserve liability for variable contracts shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees.

(Acts 1971, No. 407, p. 707, §758; Acts 1985, 2nd Ex. Sess., No. 85-993, p. 357, §2.)