Section 58-26-79 - Standards for calculating reserves for policies, contracts or benefits issuedon or after July 1, 1995. - South Dakota Statutes

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 higher than the corresponding rate or rates of interest used in calculating any nonforfeiture benefits provided therein.

Source: SL 1995, ch 284, § 35.