20-696. Scope of article
A. This article applies to all life insurance companies and fraternal benefit societies that are doing business in this state or that are authorized to reinsure life insurance, annuities or accident and health insurance business in this state.
B. This article applies to all annual statements that are filed with the director after the effective date of this article. All insurers shall file the following with the director each year:
1. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis that is conducted pursuant to section 20-696.03.
2. A memorandum in support of the opinion pursuant to section 20-696.04.
C. If a foreign company is required to submit a statement of actuarial opinion, the director may accept the statement of actuarial opinion that is filed by the company with the insurance supervisory regulator of another state if the director determines that the opinion reasonably meets the requirements applicable to a company domiciled in this state.
D. The director, by order, may adopt methods of actuarial analysis and actuarial assumptions that are necessary for an acceptable opinion and memorandum consistent with this article.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.