Section 5-203 - Active life reserves for health insurance policies.
§ 5-203. Active life reserves for health insurance policies.
(a) Required.- An insurer shall maintain active life reserves for all health insurance policies.
(b) Criteria.- The active life reserves:
(1) shall place a sound value on the insurer's liabilities under the health insurance policies;
(2) may not be less than the reserves required by the appropriate standards set forth in regulations that the Commissioner adopts; and
(3) in the aggregate, may not be less than the pro rata gross unearned premiums for the health insurance policies.
[An. Code 1957, art. 48A, § 79; 1995, ch. 36.]