§ 23-84-108 - Calculation of reserves -- Minimum aggregate reserves for certain life insurance policies.
23-84-108. Calculation of reserves -- Minimum aggregate reserves for certain life insurance policies.
(a) In no event shall an insurer's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, issued on or after June 17, 1981, be less than the aggregate reserves calculated in accordance with the methods set forth in 23-84-106, 23-84-107, 23-84-110, and 23-84-111, and the mortality tables and rates of interest used in calculating nonforfeiture benefits for the policies.
(b) In no event shall the aggregate reserves for all policies, contracts, and benefits be less than the aggregate reserves determined by the qualified actuary to be necessary to render the opinion required by 23-84-112.